The second mortgage company to buy a bank in the last five years, the combined firm would have around $2 billion in assets and more than $300 million in equity capital. The bank will provide a vast array of home lending products and banking services to its customers. The deal is subject to regulatory approvals.

Coming at $755.8 Billion among 68 counterparties, there was a tsunami of new reserves parked at the Fed, as the total was a massive $235 billion more compared to the $520.9BN (among 53 counterparites) [recorded June 16], the biggest one-day increase on record as every Tom, Dick and Harry rushed to collect the Fed's free pennies.

The Treasury Department outlined a proposal in its recent budget request for a regime requiring banks and other financial institutions to report inflows and outflows in consumer accounts with more than $600. The goal is to crack down on tax evasion by high earners and narrow the so-called tax gap between what Americans pay and what they owe.

Many changes have been put in motion since the fourth quarter of 2020, including Preferred Stock Purchase Agreement, COVID loan flexibilities, and FHFA’s new low-income refinance option. Though these movements were made to make things easier for us during the pandemic, it also constricted lenders and their borrowers.

While the lack of measurable actions that some equality promises have led to performative activism rather than progress, the BHC set a clear goal. Its “3by30” program will look to create a net gain of 3 million new Black homeowners by 2030 through a seven-point plan.

The Texas title insurance system is the nation’s most expensive, at $1,808 for the average house in Texas. Title insurance can be useful in the sense it protects against risk, but it comes with a heavy cost depending on where you live. According to many in Texas however, title insurance is nothing more than a waste of money.

Early Pay is a feature Fifth Third Bank has recently announced, giving customers access to their paycheck closer to when they earn it, allowing them more time to focus on their own financial well-being.

Morgan Stanley analysts have concluded that between 93 mid-sized U.S. banks, there is no correlation between a lender’s local economy and how fast its loans, deposits, or earnings increase. Higher quality customers can be a factor of sowed growth, leadership can also play a part too. But what has been proven is that some banks can simply grow even if their customer base doesn’t.

Deserve announced their company has raised $50 million, in order to drive the credit card transformation from plastic to the software platform for payments, lending and rewards. The fintech company has formed several partnerships in the last few years. Being the first credit card-as-a-service software platform. Deserve is one of several financial technology platforms that have raised significant amounts to accelerate the adoption of innovative fintech products.

After Visa’s failed purchase of Plaid, they have moved on to Swedish open banking Tink. If they are successful, the $2.15 billion deal would be the third-largest acquisition of European VC-backed fintech. Tink started in 2012, allowing users to keep up with their personal bank accounts but soon advanced into covering around 3,400 financial institutions.

According to Jim Marous, “Change is happening faster than ever before, and will never happen this slowly again”. Since the pandemic and further disruptions in the past 18 months, the urgency for digital banking has accelerated. With that being said, financial institutions are now realizing that the transition to digital banking requires increasing efficiency and significant changes to customer experiences.

Ransomware attacks are on the rise in the US and are quickly becoming a national security risk. With attackers acting faster than ever, investing in an around-the-clock true Managed Detection and Response service means that you can fight back within minutes and hours, not days and weeks.

IcedID is made of 2 parts: the core body and the downloader. Working in synergy, the downloader obtains the image, decrypting, and executing. Then the body takes the course of action and maps into memory, injects the web, downloads and executes payloads and infiltrates vital data.

The capital gained by bringing Coatue valuation to US $4.2 billion, will be used to deepen its data advantage by covering more cryptocurrencies and focusing on emerging use cases like DeFi. Also, the firm will develop collaboration tools in its suite of software solutions so that public and private sector teams can work together from the same data set with a consistent understanding.

Rumor of a 4th stimulus check is stirring, but what’s really going on? It’s known that President Joe Biden and a group of senators worked out the details of a possible infrastructure deal, however, pandemic-related relief money was not discussed. Some law makers are asking for additional direct financial relief for those in need, others argue that as the financial situation improves stimulus money should be lower on the agenda.

The national debt reached an all-time high of $28 trillion in March 2021. To see how America’s debt has gotten to its current point, Visual Capitalist explored key points that heavily influenced the national debt throughout history and created an interactive timeline using data from the Congressional Budget Office (CBO).

FinCEN recognized several organizations for their efforts to pursue and prosecute criminal investigations. This highlights the results of BSA efforts at financial institutions. It is not a “check the box” exercise but contributes real benefits to society when done correctly.