Rep. Maxine Waters, D-CA, is none too thrilled with plans by the Treasury Department and Comptroller of the Currency to open up federal banking charters to fintech firms.
The denial rate on mortgage applications calculated solely from Home Mortgage Disclosure Act data provides a misleading measure of credit availability, according to industry analysts. Analysts from the Urban Institute and the Federal Deposit Insurance Corp. authored a paper suggesting that the attributes of loan applicants should be taken into consideration when determining denial rates. “Higher denial rates can be the result of either a tighter credit environment or an increase in ...
There are dozens of residential lenders that use the phrase “fintech” to describe their activities, but whether they will file to become a depository is a different matter.