Organization Root Tag

The Federal Reserve has hired five executives from the stablecoin issuer Circle and at least one employee of Ripple since 2019 as part of its technology-focused recruiting efforts. It plans to do more hiring in the years ahead to aid its work on faster payments and central bank digital currencies.

U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% in three years, according to a survey released by the New York Federal Reserve.

The Office of the Comptroller of the Currency recently decided to put an official in charge of the rising number of small and midsize national banks that partner with fintechs or have nontraditional business plans. The agency’s goal is to establish a team that understands cutting-edge technologies and establishes consistent oversight policies in response.

Traders of U.S. government debt were dealt a stern reminder last week not to sleep on a market that’s been headed in one direction for a long time.

The White House says the president will nominate Michael Barr, a Treasury Department veteran and one of the architects of the Dodd-Frank Act, as the central bank's vice chair for supervision.

From bass fishing to the Super Bowl, lenders see a large pool of consumers they can reach through athletic sponsorships.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

The 30-year average has risen by more than a full percentage point in a little over a month.

Meanwhile, adjustable-rate mortgages saw their largest volume share since 2019.

A new Consumer Financial Protection Bureau lawsuit claims the credit bureau and the ex-leader of a key unit failed to comply with a 2017 order to stop misleading consumers about credit reporting and monitoring services.

Even though the majority of forbearance plans have ended, late payments continued their downward trend in January.

Ten-year U.S. yields climbed through 2.75% for the first time since March 2019 as investors priced in the impact of the Federal Reserve’s tightening plan and accelerating inflation.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

Further upward pressure is likely this spring, as markets prepare for expected reduction of bond purchases by the Fed.

Minutes of the Federal Reserve's March meeting released Wednesday also showed that “many” officials viewed one or more half-percentage-point rate increases could be appropriate going forward if price pressures fail to moderate.

Refinances now also make up less than 40% of new applications, with numbers at their lowest since 2019, according to the Mortgage Bankers Association.

Private equity firms have been weighing bids for the tech provider, according to people familiar with the matter.

Consumer advocates and fintechs say the traditional credit score and lending systems that use it are murky and perpetuate bias. FICO’s leader points out that new FICO scores use expanded data sets, just as fintechs do.

The real estate franchisor's stock price fell by $16.85 per share since the deal was announced in January, making it a less attractive currency.

But the share of homes purchased by those under age 30 has fallen steadily after peaking in 2020 as prices accelerated.