Technology

Acting Comptroller of the Currency Keith Noreika on Monday gave a ringing endorsement to online lenders seeking to expand into banking, suggesting they should consider taking deposits and seek out national bank charters as they mature.

Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

A Consumer Financial Protection Bureau proposal would limit how much Home Mortgage Disclosure Act data is released to the public in an effort to protect consumer privacy.

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.

Digital mortgages transform the customer experience with slick user interfaces and data integrations that streamline the process of getting a borrower hooked up with a lender. Now it's time to disrupt the rest of the process.

For the digital mortgage to reach its full potential, lenders and technology developers still have to solve for the disconnect between the front-end application process and the underwriting work required before a loan closes.

Automated data validations are integral to a seamless digital mortgage experience. But the extent of data exposed in the Equifax breach raises questions about the risk of fraudsters exploiting those technologies to further compromise consumer data.

While many mortgage lenders focus on updating the front end of the borrower experience, other lenders are making strides on the back end of the process with new electronic closing capabilities.

Technology isn't a magic bullet for success, and just doing mortgages digitally doesn't change how the business fundamentally works.