The fintech integrates with payroll systems of employers to arrange early access to earned wages for its customers.

Island CEF, a subsidiary of Gordon Brothers completed its first securitization in August, selling $265.5 million in bonds secured by equipment finance leases and loans payments.

The Federal Reserve voted 6-1 to finalize its proposed stress test reforms, including seeking input on stress test scenarios and models annually and averaging results over two years.

The first variable funding note for Pagaya will contain newly originated consumer loans as they attain seasoning and await securitization.

The trust has a loan-to-value ratio of 56.2%, based on the rating agency's net cash flow (NCF) of the assets and a capitalization rate of 6.00%.

Federal Reserve Gov. Michael Barr said artificial intelligence has not yet had a material impact on the labor market, but governments and businesses should be prepared nonetheless.

Self-employed borrowers account for 40.9% of the pool, but they are high earners and the pool has moderate leverage.

A federal judge ruled that the Trump administration's attempt last year to halt funding for the Consumer Financial Protection Bureau was unlawful and unconstitutional. Two other judges have issued similar decisions.

Liability management exercises are driving defaults and complicating recoveries in collateralized loan obligation pools.

Raising $350.2 million in notes, the transaction has borrowers with higher credit quality, though the notes have less excess spread.

Proceeds will allow Abacus to originate more policies and fund general corporate operations. The transaction is also part of Abacus' shift toward recurring, fee-related revenue.

Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.