Data and information management

The heads of the two companies explain how the deal came about, what hurdles they face and how they plan to mash up their very different operations.

Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress.

Financial regulators’ statement cautiously encouraging lenders to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.

The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

Banks like RBC and JPMorgan Chase can now more easily draw real-time FactSet data feeds into applications.

At a forum convened by the CFPB, several bank and fintech executives argued that long-delayed rules required under the Dodd-Frank Act can help fight discrimination and shine a light on unsavory practices in the market for small-business credit.

Ginnie Mae is looking for input on its proposed guidelines for electronic promissory notes and other mortgage documents that it plans to test through a digital collateral pilot.

Members of the House Financial Services Committee cited leveraged lending, cybersecurity and the switch to a new interest rate benchmark among potential systemic risks that keep them up at night.

The acquisition of Radius Intelligence fits with the online lender's existing focus on small commercial borrowers.