Today's Banking Pulse
Mortgage refinance demand falls 18% as rates climb to 6.65%
Refinance applications dropped 18% week-over-week, with the average 30-year fixed rate rising to 6.65%, the highest since August 2025. Refinance filings now represent just 38% of total mortgage applications, the lowest share since June 2025, while purchase‑loan volume edged down 0.4% and average loan size hit $473,600.
BSP on Guard as Digital Banks Face Profit Strain
The Bangko Sentral ng Pilipinas (BSP) reports that most of the six licensed digital banks are still unprofitable, with only Maya Bank and OF Bank posting net income. Despite early losses, the sector shows strong asset growth, with deposits reaching P138.5 billion and 33.9 million accounts by end‑2025, a 44% and 75% increase respectively. Loan portfolios expanded to P71.5 billion, but non‑performing loans sit at 6.16%, well above the system average, prompting heightened supervisory scrutiny. The regulator remains vigilant, using a risk‑based approach and early engagement to curb excessive risk‑taking as competition intensifies.
The Six Senators Who Voted Against the March Digital Dollar Ban: Johnson, Lee, Murphy, Scott, Tuberville, and Van Hollen
On March 2 the Senate invoked cloture 84‑6 to advance H.R. 6644, a broad housing and banking bill that embeds a provision barring the Federal Reserve from issuing a central bank digital currency until the end of 2030. Only six...
Risk Concealed: Private Credit, PIK and the Banks
Banks are increasingly financing private‑credit managers through non‑recourse loans structured via special purpose entities, expanding the sector to over $2 trillion in assets. Since 2022, accrued but uncollected interest on these loans has surged past $100 billion, while roughly 9% of private‑investment...
UBS Set to Face Swiss Government Decision on Capital in April
The Swiss Federal Council will decide in April how much additional capital UBS must hold, with proposals ranging up to US$26 billion. New regulations will require the bank to fully deduct software and deferred‑tax assets from its regulatory capital, a move...
Schwab Says You Don’t Have to Buy CDs From Your Bank
Schwab’s research highlights that brokered certificates of deposit (CDs) can deliver higher yields than traditional bank CDs by aggregating offers from dozens of FDIC‑insured banks. As of March 2026, brokered CD rates range from 3.5% to 4.3% APY, outpacing many...
![[TX] MemberSource Credit Union $250 Checking Bonus](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2026/03/membersource-credit-union-250-1.png)
[TX] MemberSource Credit Union $250 Checking Bonus
MemberSource Credit Union is rolling out a $250 checking account bonus for new members who join via a referral and meet a $500 direct‑deposit threshold. The promotion is open to individuals residing, working, worshipping, or studying in Harris, Montgomery, or...
Digital Challengers Deliver Real‑time Offers; Incumbents Must Adapt
Digitally enabled challengers meet customers in real time with relevant offers. Traditional institutions must rethink how and where they show up. https://t.co/SiOwf3NiXx
Stablecoin Uncertainty Could Hurt Banks More than Crypto Firms: Expert
Colin Butler, EVP of capital markets at Mega Matrix, warns that regulatory uncertainty surrounding stablecoins could disadvantage traditional banks more than crypto firms. While banks such as JPMorgan, BNY Mellon and Citi have invested in blockchain and custody infrastructure, they...
KCB Identifies Entity for 2026 Ethiopia Entry
KCB Group aims to enter Ethiopia by the end of 2026, planning to acquire control of a local bank that fits its cultural and strategic objectives. The deal must navigate Ethiopia’s 49% foreign‑shareholding ceiling, though the regulator can grant exceptions...
The Finanser’s Week: 9th March – 15th March 2026
The week’s highlights cover Coinbase’s x402 payment protocol, AWS’s banking‑on‑the‑cloud report, the U.S. Treasury’s smart‑regulation guidance for digital assets, the industry’s shift toward branchless, cashless banking, and the use of crypto to evade sanctions. x402 promises internet‑speed, open payments that...
Chase Freedom Unlimited $250 Bonus
Chase has re‑launched its Freedom Unlimited sign‑up bonus, now offering a $250 reward after spending $500 within the first three months. The promotion is limited to referrals and cannot be shared publicly in comments. The card carries no annual fee...
Switzerland’s PostFinance Reports Latest Financial Results, Expands Digital Assets Offering
Swiss Post’s 2024 results showed a resilient operating profit of CHF 332 million despite a CHF 20 million drop in group profit, with PostFinance contributing CHF 290 million. Parcel volumes rose 3.7% to a record 186.6 million, while digital services surged, adding 360 000 new...
Capital One Venture X Card: The Ultimate Guide to Features, Benefits, and Rewards
Capital One introduced the Venture X Rewards Credit Card, a premium travel product with a $395 annual fee. The card features a 75,000‑mile welcome bonus after $4,000 spend in three months, a $300 annual travel credit, and a 10,000‑mile anniversary...
Elizabeth Warren Slams SEC Over Justin Sun Settlement, Demands Crypto Laws Confront Trump’s ‘Crypto Corruption’
Senator Elizabeth Warren publicly rebuked the SEC for ending enforcement actions against crypto entrepreneur Justin Sun and related Tron entities, after a $10 million civil fine was imposed on Rainberry. The settlement dismissed core allegations without any admission of wrongdoing, prompting...
PayPal Removes BillPay Services (Unsure Whether Temporary or Permanent)
PayPal has removed its Bill Pay feature for consumer accounts, with the change appearing to take effect on February 28, 2026. The discontinuation was noted by users and industry observers, though PayPal has not issued an official statement confirming whether...
Tide Enters the Telecom Battleground with UK’s First Business Banking Mobile Plan
Tide, the UK‑based business‑banking platform valued at $1.5 billion, has teamed with telecom infrastructure firm Gigs to launch a native mobile plan powered by Vodafone’s 5G network. The service embeds a dedicated business phone number and eSIM directly into Tide’s all‑in‑one...
Average SWIFT Transfer Time Revealed From 5,000 Payments
🌐💸 How long do SWIFT payments take? Insights from 5,000+ #payments. @Statrys: https://t.co/rKogdaVxWp #DigitalBanking #remittances https://t.co/S3og7b23fo
Redfin Reveals Why Now Is the Right Time to Refinance a Mortgage
Redfin’s latest analysis shows that roughly one in five U.S. homeowners could lower their mortgage costs by refinancing, even with a modest 0.5 percentage‑point rate drop. With average rates hovering around 6 percent, borrowers who locked in higher rates in 2023‑2024 stand...
Streamline Your Transactions: Regional Finance Payment Online Made Easy
Regional finance payments are hampered by fragmented accounts‑receivable workflows, leading to missed revenue and cash‑flow strain. Embedding payment tools directly into existing ERP or invoicing systems enables instant payment links, real‑time visibility, and automated reconciliation. Companies that adopt diverse digital...
Fears of ‘Cockroaches’ in the Private Credit Market
Wall Street’s alarm over private credit intensified after two high‑profile bankruptcies in September, prompting JPMorgan CEO Jamie Dimon to warn that a single “cockroach” may signal a larger infestation. The private credit market, a $3 trillion, lightly regulated segment of private...
The Digital Economy’s Longest-Running Grudge Matches
The digital economy is rife with high‑profile rivalries that extend beyond market share into principles, fees, and brand prestige. In 2026, OpenAI and Anthropic are sparring for enterprise AI contracts, while Amazon secured a court order to block Perplexity’s shopping...
Stablecoins Could Form Backbone of Global Payments in 10 Years: Billionaire
Billionaire investor Stanley Druckenmiller told Morgan Stanley that blockchain‑based stablecoins could become the core of the global payments system within the next ten to fifteen years. He highlighted their speed, lower cost, and productivity gains compared with legacy rails. The...
AIS Outlines Targets for Upcoming Clicx Bank
Advanced Info Service (AIS) together with Krungthai Bank and PTTOR will launch Clicx Bank, an AI‑driven virtual bank, in Thailand by June 2025. The venture, structured through Thai Trinity Holdings, targets up to 30% of the partners’ combined 60 million customers,...
How Rising Bank Lending to Non-Bank Financial Institutions Reallocates Credit Away From Firms
A new Columbia paper shows that euro‑area banks have shifted lending from corporations to non‑bank financial institutions (NBFIs), with bank‑NBFI exposure rising nearly 60% since 2019 while corporate loans grew only about 20%. Reverse repurchase agreements now represent roughly 45%...
Banks Fund Old‑school Firms, Ignore Modern Ventures
banks won't touch: – your nightclub – your shopify store – your crypto token banks trip over themselves to fund: – plumbing company with 30 years history – logistics business with 5 contracts – clinic doing $500K/year know the game
Retail Banker International Announces Winners of the Asia Trailblazer Awards 2026
Retail Banker International unveiled the winners of its 17th Asia Trailblazer Awards, recognizing leading retail and digital banks across the Asia‑Pacific. United Overseas Bank captured the top honor, while Citibank’s Kiran Khatri earned the Rising Star People Award. Judges highlighted...
Citi Unveils New 5% Cash Back Categories on the Dividend Card — Here’s How to Activate
Citi has launched its Q2 2026 cash‑back bonus categories for the Dividend Card, offering 5 % back on Citi Travel bookings and grocery purchases. Cardholders must enroll by March 12, 2026 and can earn up to $300 in bonus cash back for the year,...
White House Order to Increase Small Bank Mortgage Lending
The White House issued an executive order directing the CFPB and banking regulators to tailor mortgage rules for community banks, aiming to revive small‑bank participation in mortgage lending. The order follows a bipartisan Senate housing bill but highlights the House’s...
Senate Passes Housing Bill Without CCCA Amendment
The Senate approved the bipartisan 21st Century ROAD to Housing Act on March 12 with an 89‑to‑10 vote, but the Credit Card Competition Act (CCCA) amendment was stripped from the final text. The CCCA, championed by Senators Roger Marshall and...
Judge Says 'No Evidence' To Justify Federal Reserve Probe
A U.S. district judge blocked the Justice Department's subpoenas seeking Federal Reserve records, ruling there was no evidence to justify the probe. Judge James Boasberg concluded the subpoenas were a pretext to pressure Chair Jerome Powell into lowering interest rates....
From Stablecoin to Fraud, Top Takeaways From the 2026 ABA Summit
Rob Nichols, CEO of the American Bankers Association, reflected on the ABA Washington Summit, highlighting the unprecedented unity of 1,400‑plus senior bankers advocating on stablecoin regulation, fraud prevention, and regulatory right‑sizing. He emphasized the industry’s bipartisan push to close a...
From Garden Network to Open Gates: Building the Future
Fun story: I first signed up for Cash App in 2018 when colleagues quoted the old Cash App ads at me: "We aren't using the other apps anymore." Our network was a garden that drove hyper growth for a decade. Now, it's...
CBN Caps New Mobile Banking Transfers at N20,000 for 24 Hours
The Central Bank of Nigeria (CBN) will limit transactions on newly activated mobile banking apps to N20,000 during the first 24 hours, effective 1 July 2026. The regulator also mandates single‑device binding, multi‑factor authentication for new device logins, and real‑time fraud‑monitoring systems...
American Express Adds New Restrictive Language To Marriott Cards
American Express has revised the eligibility language on its personal Marriott co‑branded credit cards, expanding the list of cards and timeframes that disqualify new applicants from receiving the welcome bonus. The new terms now block anyone who held any Marriott‑related...
Enforcement Is Down Under Trump. Is that a Problem?
Bank‑level enforcement actions by the FDIC, OCC, Fed and NCUA fell 55% from 116 in 2024 to 52 in 2025, with quarterly new cases dropping from 20 to just two. At the same time, terminated actions more than doubled, reaching...
Maximizing Capital One Shopping Portal Offers
Readers of Doctor of Credit have compiled practical tips for extracting the most value from the Capital One Shopping portal, a rewards platform that pays out in gift‑card credits rather than cash. One contributor reported $4,200 in tracked rewards in...
Country Bank Selects CTO to Bolster IT Capabilities
Country Bank announced Ryan Stepalavich as senior vice president and chief technology officer, tasking him with steering the firm’s technology strategy. Stepalavich arrives with more than 26 years of IT experience, including 14 years in financial services, and a track...
FHA to Allow Early Payments on Trial Loan Mods
The Federal Housing Administration announced that borrowers enrolled in its trial loan‑modification program can now make early payments before the trial period ends. The change gives homeowners the option to reduce principal faster and avoid default during the trial. Early...
As Charge-Backs Spike, Banks Should Avoid These 5 Missteps
Charge‑backs are accelerating, with Datos Insights forecasting 359 million disputes by 2029 and an average dispute value rising 16% to $251. Each U.S. dispute costs banks $9‑10 to process, translating into billions of annual expenses. Banks frequently err by rubber‑stamping claims,...
Banks Shifted $300B Risk to Private Credit Funds
$300B in bank loans to private credit funds, BDCs, and CLOs. "Private credit moved risk out of the banking system" was always the pitch. The banks just lent to the funds instead of the borrowers.
Better Lost $40M. Its CEO Has Never Been Bolder
Better Home & Finance reported a $40 million net loss for Q4, while revenue held steady at $44 million and loan volume surged 56% year‑over‑year to $1.5 billion. The AI‑native lender announced a partnership with a top‑5 non‑bank originator and reaffirmed its goal...
Visa, Mastercard Thrive on Payment Rails, Not Lending
V x MA The world is moving toward digital payments. Visa and Mastercard sit at the center of that shift. They don’t need to lend money to win. They own the payment rails that banks and merchants rely on. Every swipe is another transaction on...
Mortgage Rates
Rate locks between 6.20% - 6.35% corrinadting with positive purchase application data and weekly pending sales all year long, so far, yes. At 6.41% today is the first day that pricing is above the September 17th, 2025 data point https://t.co/lqWqldYe3s
The Fed Is Readying to Punish Banks for Holding Bitcoin as US Crypto Tensions Boil Over
The Federal Reserve is set to vote next week on a revised Basel capital proposal that reshapes how large U.S. banks treat Bitcoin exposures. Under the current framework, unhedged crypto assets fall into a Group 2b bucket with a punitive 1250%...
2026 Mortgage Rates Show Record‑Low 42‑bp Spread
Since 2000, the average year has seen an 87 bps range between the highest 30-year fixed mortgage rate reading in the calendar year and the lowest reading So far in 2026, that range has been 42 bps Lowest this year: 5.99% Highest...
Bilt Users Report Unpaid Rents and Poor Support
Impacted Bilt users continue to complain about rent payments not being made to their landlords, difficulty accessing human customer support:
Cash App Shifts From Underbanked Aid to Gambling Gateway
cash app used to pride itself on helping the underbanked. now its... lets connect the underbanked to digital casinos i guess
ECB's Panetta: Private Sector Drives Cross‑border Payments
ECB’s Panetta says the private sector is key in cross-border payments https://t.co/dYdaPPXjLl via @Alemrome https://t.co/dkpP47DCou
War-Driven Rate Hike Adds $130/Month on $600k Mortgage
For a $600,000 home, a borrower will now have to pay $130 more per month than what they would have paid the day before the war started when rates were 5.99%
People Rarely Change Their Banking Apps
I'm not sure how accurate this is, but I do know that nobody ever switches their banking app. https://t.co/sSoj6aN1T6