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Myriad Factors Are Driving Bank Actions As Rates Continue To Rise

While bank deposit pricing actions have remained somewhat muted, there are increasing signs of action in various corners of the market.

Aussie awaits RBA's rate decision but eyes on consumption - Forex News Preview

Aussie awaits RBA’s rate decision but eyes on consumption – Forex News Preview<p>Posted on December 4, 2017 at 4:40 pm GMT<p><b>“If the economy continues to</b> …

TransUnion: HELOCs Could Double over Next Five Years | Mortgage Bankers Association

TransUnion, Chicago, said nearly 10 million consumers are expected to originate a home equity line of credit between 2018 and 2022, more than …

Real Estate

Goldman Sachs to Lend to House-Flippers

Goldman is buying Los Angeles-based Genesis Capital, which offers mortgages to home renovators<p>Goldman Sachs Group Inc.’s push to lend more has taken it to some strange places for a storied, elite Wall Street firm. The latest: house flipping.<p>Goldman is acquiring Genesis Capital LLC, a closely held …

Real Estate

Nonbanks reclaim dominance in home lending, HMDA stats show

Nonbanks made the majority of the purchase and refinance loans in the market during 2016 for the first time in decades, according to annual Home …

Equifax credit freezes could threaten demand for consumer loans

Let's be honest. Before the massive data breach at Equifax, did many Americans — even privacy-minded folks — consider freezing their credit?<p>Credit …

Bank Execs Are Misaligned On Technology and Analytics

Many executives in the banking industry aren't just out of touch with consumers and the external market. They are out of touch internally... with …

Banking

Fifth Third to buy third nonbank this year

Fifth Third Bancorp in Cincinnati has agreed to buy Epic Insurance Solutions in Louisville, Ky., to expand its fee-based lines of businesses.<p>The …

Australian Banks Could Finally Head Down Under

By<p>Jacky Wong<p>Jacky Wong<p>The Wall Street Journal<p>Biography<p>@jackycwong<p>jacky.wong@wsj.com<p>Investors have been calling the Australian housing market a “bubble” for years, yet prices keep charting higher. The market, though, could finally be about to turn south. That won’t be pretty for the country’s …

Australia

Good news for fintech seen in CFPB’s ‘no-action’ move

The Consumer Financial Protection Bureau created a buzz in the fintech community when it issued a no-action letter to the online lender Upstart …

Canada Has Best ‘Boring’ Banks in the World, Citi Says

Canadian lenders are tops among the world’s most “boring” banks -- and that’s a good thing, according to Citigroup Inc.<p>They rank as the best compared …

Bay Street

Australian Banks Sitting on A$500 Billion of 'Liar Loans,' UBS Says

Here’s something else for policy makers to worry about as they attempt to engineer a soft landing in Australia’s property market.<p>The country’s …

Finance

Remortgaging strengthens in July - Council of Mortgage Lenders

<b>UK Finance data shows that lending for house purchases in July was lower than in the preceding month but higher than a year earlier:</b><p>First-time buyers …

Tech firms like Amazon and Facebook are the biggest competitive threats to the banking industry

Much has been made of the rise of fintech—the whizzy startups seeking to upend the banking business. While they’ve helped make the industry more innovative, such firms generally haven’t captured much market share so far, according to a report by the World Economic Forum (WEF). Traditional banks are …

World Economic Forum

Wells Fargo Faces a New Auto-Loan Headache

The latest questions concern guaranteed asset protection the bank sold through car dealerships<p>Wells Fargo & Co. is facing more regulatory scrutiny related to auto-insurance practices.<p>The latest questions concern guaranteed asset protection the bank sold through car dealerships, a person familiar …

Finance

Federal Reserve Aims to Cut Back Requirements for Bank Directors

Idea is to get bank boards ‘out of the weeds’ and ‘focusing on big issues,’ says Fed governor Jerome Powell<p>WASHINGTON—The Federal Reserve proposed scaling back the requirements it places on banks’ boards of directors, its latest move to recalibrate regulations as it takes stock of rules adopted …

Jerome Powell

A Mortgage Mystery: What Happens to ARMs When Libor Goes Away?

Many adjustable-rate mortgages are pegged to Libor. What comes next is anyone’s guess.<p>The Libor index is going away. For U.S. consumers, its demise is most likely to be felt in adjustable-rate mortgages.<p>So-called ARMs—where the interest rate rises and falls with broader indexes—are often closely …

Investing

Toronto home prices in record monthly drop as sales plunge

Home prices in Canada’s largest city posted their biggest monthly drop in at least 17 years in July and sales plunged as government efforts to cool …

Regulators to delay meeting in bid to reach bank capital deal

LONDON (Reuters) - Banking regulators will postpone their next meeting in another bid to agree on global capital rules, taking more time to try to overcome objections from European banks to minimum capital levels, people familiar with the talks said.<p>The negotiations are being closely watched by …

Investing

Fintech Use Reaching ‘Mass Adoption’ Among Digital Consumers

The adoption of alternative fintech banking solutions is expanding globally, with payments and money transfer services being the most used.

Banking

Big Australian banks to be required to hold more Tier 1 capital by 2020 -regulator

SYDNEY, July 19 (Reuters) - Australia’s four biggest banks will be required to have Tier 1 capital ratios of 10.5 percent by 2020, the country’s prudential regulator said on Wednesday.<p>The Australian Prudential Regulation Authority said in a statement that the increase in capital, which is about 100 …

Australian Prudential Regulation Authority

Canadians Banned From ‘Banking’ At Credit Unions

Credit unions in Canada are banned from using the B-word. This regulatory shocker is reverberating through the U.S. Will American credit unions be …

Banking

Consumer Appetite Will Dictate Level Of Disruption In Europe's Banking Industry

More people than ever before hate their banks, according to a CNBC report last month. Within financial services as an industry there has been little love lost on both sides of the Atlantic between banks and their customers since 2008 and the financial crisis, almost a decade ago. Today traditional …

Banking

An online loan in five minutes? This startup says it's possible

Dan O'Malley, who until very recently ran the fintech incubator at Eastern Bank (and before that was at Capital One), now has a startup called …

Goldman Sachs Embraces Banking’s Bland Side: Lending Money

The investment bank, seeking growth beyond its elite Wall Street turf, is moving to finance corporate takeovers, lend against mansions and make personal loans for things such as kitchen remodels<p>Goldman Sachs Group Inc. earned its elite reputation by dominating the glamorous end of …

Finance

Today's Stock Market News and Analysis from Nasdaq.com

2/1/2018 9:03:00 AM - RTT News<p>Appears In: World Markets<p>2/1/2018 9:03:00 AM - RTT News<p>Appears In: Politics<p>2/1/2018 9:03:00 AM - RTT News<p>Appears In: …

Stock Markets

Brokers a ‘source of pain’ for banks: Spectrum

An Australian asset manager believes the “extensive use of mortgage brokers” by banks is intensifying risks in the home loan market.

Finance