JPMorgan Chase has finally spoken about lending money towards the private-prison industry. After years of being beleaguered by activists and shareholders, the company has decided to stop banking with private prisons. This comes after much pressure from concerned citizens...
The new mortgage stress test practiced in Ottawa, Canada is seen as the main motive as to why mortgages declined since 2018. Following this news, CIBC states that the country should review its stress tests to see how these...
Two out of four key players in Australia’s banking sector reportedly amplified their lending to companies in the fossil fuel industry, The Guardian reported. This is despite the banks’ public announcements supporting the Paris climate agreement.
According to a study...
Hong-Kong-based Sky Seal Capital announced Saturday, Feb 22, the launch of its latest platform called Phoenix Lending designed to enable users to deposit digital assets while earning interest.
In a press release, the company said it had employed AI strategy...
The number of mortgage origination in two major US banks fell in the first quarter of 2019, which the lenders blame on strict regulation and the emergence of non-bank competitors.
JPMorgan Chase reported its mortgage lending slumped by 18% in...
The Federal Reserve is mulling on imposing a stricter policy on foreign bank branches to tighten the "loophole" that allowed overseas lenders to protect its assets from U.S. bank rules, people privy to the matter said.
The potential rule change...
Due to series of reports of customers and investigations conducted by the U.S. Office of the Comptroller of the Currency (OCC), Citigroup was fined $25M for denying mortgages borrowers in the basis of race, color and other factors.
In 2012,...
The Senate issued its final ruling on Wednesday, March 11, 2020, on the Student Loan Forgiveness Program. The initiative proposed by Education Secretary Betsy DeVos initially intended to limit the student debt relief extended to individuals misled by for-profit...
The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP) said on Wednesday, the outstanding loans of universal and commercial banks grew by 10.1 percent.
According to BSP’s preliminary data, loans issued by banks last November 2019 swelled as...
The executive committee of the Montreal municipal government has recently favored two loans amounting to $106.5 million. Montreal Gazette reported that the fund will be funneled toward the development and protection of green spaces around the city.
Executive committee member...
