Financial News

  The Dallas company, which has been in transformation mode for three years, recently took a series of actions to try to meet the profitability targets it set for itself. 

  A company spokesperson said the company reviews fraud-related issues and refers them to law enforcement "as appropriate." 

  Morgan Stanley will have to pay $2 million for failing to flag trading in First Republic Bank by its former CEO. The transactions happened in the lead-up to the regional bank's collapse. 

  The payment company is enabling consumers to stack multiple cash-back offers as a way to lure consumers to its alternative digital wallet. 

  Federal Reserve Gov. Christopher Waller said the central bank should lower its target interest rate now and execute a series of cuts in months ahead. 

  It's the latest proposal for a type of national infrastructure financing structure in lieu of the municipal bond market. 

  Federal Reserve Bank of New York President John Williams said he's seen enough data to be comfortable with a rate cut at the Federal Open Market Committee meeting later this month. 

  Minneapolis-based banking giant enjoying its biggest year ever for 7(a) lending, with volume up 40%, as borrowers "are still coming to us," SBA chief says. 

  Other estimates suggest nonbank mortgage employment grew in July as the industry cautiously added staff to handle incremental growth in demand for loans. 

  The Consumer Financial Protection Bureau is seeking to protect borrowers from unscrupulous loan servicers. The goal is laudable, but the agency's methods are misguided.