Last week, LendingClub Corp. made the first move into traditional banking for a fintech company, announcing that it would buy Radius Bank, a Boston-based online bank, for $185 million. The move comes after failed attempts by fintechs in recent years to secure access to banking through special charters. Chris Cole of the Independent Community Bankers … Read more
The Consumer Financial Protection Bureau (CFPB) announced that it will hold a symposium on Consumer Access to Financial Records and Section 1033 of the Dodd-Frank Act. The CFPB’s data access symposium is intended to elicit a variety of perspectives on the current and future state of the market for services based on consumer-authorized use of … Read more
ESMA finds continued high risks as financial markets remain highly volatile Wednesday 19 February 2020 10:39 The European Securities and Markets Authority (ESMA), the EU’s securities regulator, today publishes the first Trends, Risks and Vulnerabilities (TRV) report of 2020. ESMA identifies continued high risks and a weaker economic outlook as markets remain highly sensitive to … Read more
Summary FINRA seeks comment on a proposal to implement the recommendations of the Securities Industry/Regulatory Council on Continuing Education (CE Council) enhancing the continuing education requirements for securities industry professionals.1 The proposal would change the: (1) Regulatory Element to provide annual training, make the content more relevant, incorporate diverse instructional formats, publicize the learning topics … Read more
Spring EQ, a leading nationwide second mortgage lender that is using technology to change the way consumers access their home equity, announced that Gregory Gentek has joined the company as senior vice president of sales.
Federal banking regulators said in a recent report that the credit risk associated with leveraged lending in the industry remains elevated. The findings came in the Shared National Credit Program Review issued by the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. Read on for details from the … Read more
The former chief of staff for a congressman considered as a candidate to be the director of the Consumer Financial Protection Bureau has been hired as the head of government affairs for the American Securities Association.