Brazilian online lender Inter&Co is expanding its efforts in the United States, with a focus on replicating its success in Brazil’s online banking sector. With a customer base of 32 million clients in Brazil, Inter has gained popularity by offering a wide range of products, including...
The Consumer Financial Protection Bureau (CFPB) is warning businesses against hiding “unlawful or unenforceable terms” in contracts’ fine print. “Companies use this fine print tactic to try to trick consumers into believing they have given up certain legal rights or protections,” the bureau said in...
New York Community Bank (NYCB) is selling $5 billion in loans to J.P. Morgan Chase. The sale of these “mortgage warehouse loans” is designed to strengthen the regional bank’s capital and liquidity, according to a Tuesday (May 14) press release. “Consistent with my guidance during our recent earnings call,...
The Financial Stability Oversight Committee (FSOC) is encouraging state and federal regulators and Congress to do more to enhance the resilience of nonbank mortgage companies (NMCs). The agency did so in a report released Friday (May 10) that also identifies risks in this sector, the FSOC said in a press...
January 05, 2024
Traditionally, consumers rely on their primary financial institutions (FIs), such as banks or credit unions (CUs), for credit products like credit cards, mortgages, auto loans and personal loans. However, research indicates a shift in consumer behavior, with more individuals actively seeking better deals and turning to alternative financial service providers, including FinTechs, that provide these […]
March 22, 2022
The black swan events seem to be coming fast and furious: COVID-19. War in Europe. Inflation, touching torrid pacing that hasn’t been seen in 40 years. Paychecks are being stretched...
May 21, 2021
It’s a tough time to be a buyer in the housing market. The average price of a new home in 2020 was $389,400 U.S. dollars, and in 2021, it reached...
August 31, 2020
The great digital shift might upend the way we get mortgages, transforming a $2.1 trillion industry weighed down by time-consuming processes to one that is faster and more transparent. Anyone...
July 10, 2024
The Consumer Financial Protection Bureau (CFPB) aims to require mortgage servicers to do more to help struggling homeowners before foreclosing. The regulator issued a proposed rule on this issue Wednesday (July 10) and will accept public comment on it until Sept. 9, the CFPB said in a Wednesday press release. “When struggling homeowners can get […]
June 05, 2024
Brazilian online lender Inter&Co is expanding its efforts in the United States, with a focus on replicating its success in Brazil’s online banking sector. With a customer base of 32 million...
June 04, 2024
The Consumer Financial Protection Bureau (CFPB) is warning businesses against hiding “unlawful or unenforceable terms” in contracts’ fine print. “Companies use this fine print tactic to try to trick consumers...
May 15, 2024
New York Community Bank (NYCB) is selling $5 billion in loans to J.P. Morgan Chase. The sale of these “mortgage warehouse loans” is designed to strengthen the regional bank’s capital and liquidity,...
