Today's Banking Pulse
Mortgage refinance demand plunges 18% as rates climb to 6.65%
Refinance applications fell 18% week‑over‑week, dropping to 38% of total mortgage filings—the lowest share since June 2025. The average 30‑year fixed rate rose to 6.65%, while purchase‑loan volume edged down 0.4% and the average loan size hit $473,600.
Also developing:
By the numbers: OakNorth acquires Monite to boost business banking
Western Union Co (WU) Q1 2026 Earnings Call Transcript
U.S. Bancorp reported first‑quarter 2026 earnings of $1.18 per share, a 15% year‑over‑year increase, with total net revenue climbing 4.7% to $7.3 billion. Loan growth drove net interest income up 4.1% to $4.3 billion, while fee income rose 6.9% on strong capital‑markets and payments performance. The company highlighted a strategic partnership with Amazon that could generate $1.6 billion in loans and $75‑$85 million of quarterly revenue, and a pending BTIG acquisition expected to add roughly $200 million in fee revenue each quarter. Positive operating leverage expanded 440 basis points, underscoring disciplined expense management.
First Hawaiian Inc (FHB) Q1 2026 Earnings Call Transcript
First Hawaiian Inc reported a Q1 2026 net interest margin of 3.21%, up two basis points, driven by lower deposit costs and maturing borrowings. Net interest income rose to $170.3 million and total loans increased $183 million, reflecting 5.2% annualized...
Treasury Chief Says Smarter AML Starts With Better Identity
Treasury Assistant Secretary Jonathan Burke told a House subcommittee that the U.S. AML framework must evolve to keep pace with faster, digital payments and sophisticated fraud. He urged a shift from volume‑driven alerts to risk‑based supervision, emphasizing better digital identity...
FINRA’s Intraday Margin Overhaul Replaces ‘Outdated’ Requirements
FINRA announced a comprehensive overhaul of its intraday margin rules, scrapping the 25‑year‑old framework that required a $25,000 equity minimum for pattern day traders. The new standards shift focus to real‑time monitoring of customer positions, allowing brokers to block trades...
FedNow Fortifies Security for Instant Payments
On April 28, the Federal Reserve’s Financial Services arm will roll out a network intelligence API for FedNow participants. The tool supplies receiver‑level account data and leverages historical FedNow transactions to generate instant risk insights before payments are executed. After...
SVB Rebrand Risks Losing Loyal Customers and Mission
Call me old school, but I'm not thrilled about the rebrand of SVB>>First Citizens. I know the *why*, but pretty sure that severing that connection to the past and the history of Silicon Valley is going to cause customer flight....
Building a Profitable Neobank by Doing Everything the Hard Way With Ali Niknam, CEO of Bunq
In this episode, Ali Niknam, founder and CEO of the Dutch neobank bunq, explains how he built a profitable, user‑centric bank by self‑funding it with nearly €100 million (≈ $108 million) and launching with a paid subscription model instead of free plans. He...
MBA Renews Press for Limited Single Report as Scores Compete
The Mortgage Bankers Association (MBA) is urging regulators to allow a single credit report for high‑score mortgage borrowers, arguing it can lower costs and spur competition among the three major bureaus. The proposal includes safeguards such as requiring lenders to...
Banks Pay Homeowners To
Banks are now PAYING homeowners to move if they get rid of their mortgage? You can get a massive principal balance reduction if you give up a super low-rate mortgage and buy a replacement home at today's rates. The DREAM (Discount for...
Ladder Capital Posts $33.6M Distributable Earnings, Highlights CRE Loan Payoffs
Ladder Capital Corp. posted $33.6 million in distributable earnings for Q4 2024, delivering an 8.9% return on equity. The results were driven by $1.7 billion of loan payoffs, a modest leverage ratio of 1.4x, and an $850 million upsized revolving credit facility that expands...
Abu Dhabi Deepens Strategic Financial Ties with Italy, Boosting Cross‑Border Investment Banking
A high‑level Abu Dhabi delegation led by Ahmed Jasim Al Zaabi met Italian financial leaders in Milan, cementing a strategic partnership that targets cross‑border capital deployment and advisory work. The talks build on a 2025 UAE‑Italy pact and signal new deal...
LA Times Names Two Withum Leaders on Its Banking and Finance Visionaries List
The Los Angeles Times has added two Withum professionals—tax partner Azniv “Aza” Ghazaryan and audit principal Lilit Nersisyan—to its 2026 Banking and Finance Visionaries list. The annual list spotlights advisors who shape Southern California’s financial landscape through strategic insight and...
Woori Bank Inks MOU with Vietnam’s Viettel Group to Boost Digital Banking in Asia
South Korea's Woori Bank signed a memorandum of understanding with Viettel Global, the overseas arm of Vietnam's largest mobile carrier, to deepen digital banking cooperation. The deal follows tens of millions of dollars in prior financial transactions and a high‑level...
OnePay Adds Credit-Building Card to All-in-One Financial App
OnePay announced the Builder Card, a credit‑building product embedded in its all‑in‑one financial app. The card requires no credit check, security deposit, interest or late fees, and automatically sets aside cash from the user’s OnePay Cash balance to cover purchases...
The Club for Growth Tells Senate Banking Committee to Push Forward the CLARITY Act
The Club for Growth sent a letter to the Senate Banking Committee urging swift action on the CLARITY Act, legislation designed to clarify the regulatory split between the SEC and CFTC for digital assets. The nonprofit argues that regulatory uncertainty...
BIS Report Warns Banking Services From Crypto Firms Carry Risk
The Bank for International Settlements warned that cryptocurrency exchanges acting as multifunction cryptoasset intermediaries (MCIs) are offering banking‑like services—such as lending and yield products—without the capital, liquidity and prudential safeguards that traditional banks must meet. The report cites the 2022...
Small Business Loan Terms for Every Financing Type
The article breaks down the hidden costs of small‑business financing by detailing loan terms, repayment periods, and interest rates across a range of options—from traditional bank loans to SBA programs, lines of credit, and merchant cash advances. Shorter terms lower...
Agencies Finalize Changes to Enhance Community Bank Leverage Ratio
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency jointly finalized a rule that lowers the community‑bank leverage ratio from 9% to 8% and extends the compliance grace period to four quarters. The...
April 23, 2026 – Notational Vote
The FDIC Board approved, via a notational vote, the Final Regulatory Capital Rule revising the Community Bank Leverage Ratio (CBLR) framework. Chairman Hill, Directors Gould and Vought voted in favor, with no opposition. The rule updates how leverage ratios are...
Payments Canada Strengthens Fraud Prevention Defenses and Broadens Membership Base
Payments Canada announced two strategic moves to strengthen Canada’s payment ecosystem. Patrick Boudreau, a veteran of fraud prevention at TransUnion and RBC, will join as Vice‑President of Fraud and Financial Crimes on April 30, 2026, overseeing the National Payment Fraud...
DOJ Rescheduling Medical Cannabis May Reignite Bank Interest
The Department of Justice issued a final order moving FDA‑approved and state‑approved medical cannabis products to Schedule III, marking the first step toward fully rescheduling the plant. The move eliminates the Section 280E tax restriction for Schedule III substances, allowing cannabis companies to...
Bank of Thailand: Missing Piece in the Country’s Digital ID Stack Is Data Portability
Thailand’s central bank boasts a robust digital ID system with over 30 million users and a PromptPay payments network that processed a record 96 million transactions in a single day, a ten‑fold rise since 2019. Deputy Governor Daranee Saeju warned that without...
Huntington's Profits Rise, but It Boosts Reserves on War Worries
Huntington Bancshares bolstered its Federal Reserve cash balance by $4 billion amid heightened concerns over the Iran war, a move that trims its projected 2026 net‑interest margin by five basis points. Despite the reserve buildup, the bank posted a strong first‑quarter,...
Mythos Is a Wake-Up Call for DDoS Defense
Anthropic’s new AI model Mythos can autonomously identify software flaws and craft exploits, prompting an emergency meeting of top bank executives with Treasury Secretary Scott Bessent and Fed Chair Jerome Powell. The regulator‑level concern centers on AI‑driven attackers accelerating vulnerability...
JPMorgan’s Private‑credit Playbook: Inflate Rates, Warn
The JPMorgan private credit playbook this month: 1. Raise back-leverage rates 50-150bps. 2. Mark down the collateral. 3. Tell the press the asset class is risky. 4. Launch your own fund. The warnings were always going to end in a product launch.
Regulator Confused About Polymarket’s International Scope
Remarkable that the country's top derivatives regulator either doesn't know (or is deliberately obfuscating) the difference between the two Polymarkets....
Bread's Strong Earnings Tempered by Economic Worries
Bread Financial reported a strong first‑quarter performance, with loan balances climbing to $18.1 billion, a 2% year‑over‑year increase, and credit sales up 7% to $6.5 billion. Revenue rose 5% to $1.02 billion and net income surged 32% to $4.15 million, beating analyst forecasts. Credit...
Private Credit Masks Volatility, Echoes 2008 Shadow Banking
Private credit may hide volatility, but hiding it doesn't make it disappear. We learned that lesson with shadow banks in 2008. Is private credit just shadow banking with a new name? Partly yes, partly no. The honest answer is rarely...
Sunbit Launches on Stripe, Unlocking Flexible Financing for In-Person Service Businesses Nationwide
Sunbit announced general availability of its consumer financing solution on Stripe, letting U.S. in‑person service businesses embed no‑fee, 0% interest credit directly into Stripe’s payment flow. The integration offers a 90%+ approval rate, soft credit checks, and flexible plans from...
Mortgage Rates Slide for Third Consecutive Week
U.S. mortgage rates slipped for the third week, with the 30‑year fixed rate averaging 6.23% and the 15‑year at 5.58% for the week ending April 23. The decline follows a modest rise in mortgage applications, driven by a surge in...
Skinny Is Good
The Federal Reserve Bank of Kansas City granted Kraken Financial a limited‑purpose master account, giving the crypto exchange direct access to the Fed’s payment infrastructure. This marks the first time a digital‑asset platform can route transactions through the central bank...
Fannie Mae, Freddie Mac Embrace Alternative Credit Scoring
Fannie Mae and Freddie Mac announced they will now accept mortgages scored with VantageScore 4.0, a model that incorporates rent and utility payment data alongside traditional credit information. The agencies also lowered the minimum credit‑score requirement to 620 for certain purchase...
Council Issues ‘I’ Item Note on PSD3
On 23 April 2026 the EU Council issued an ‘I’ Item Note on the draft Payment Services Directive 3 (PSD3) and the accompanying Payment Services Regulation (PSR). The Council simultaneously published final compromise texts for both the Directive and the...
Banc of California Posts Q1 2026 Earnings Beat, Revenue Up 7.9%
Banc of California announced first‑quarter 2026 earnings of $62.01 million, or $0.39 per share, beating last year’s $43.62 million and $0.26 EPS. Revenue rose 7.9% to $286.95 million, reflecting gains from its digital banking initiatives and tighter expense control.
Kuwait Makes My Identity Mobile App Mandatory for Online Remittance Authentication
Kuwait’s Central Bank has ordered every licensed exchange company to verify customers through the government‑run My Identity mobile app before processing any online international money transfer. The directive requires real‑time identity checks via the app for each transaction and documentation...
Standalone Regulatory Relief
The Bangko Sentral ng Pilipinas (BSP) is considering a temporary reduction of the Minimum Liquidity Ratio (MLR) for the Chamber of Thrift Banks (CTB) from 20% to 16% to ease liquidity pressures on its 54 members and 1,200 branches. This...
I2c to Join Nacha Payments 2026 Panel on Navigating Legal Risk in Embedded Finance
i2c Inc. announced that its General Counsel, Meredith Carlo, will speak on a panel at Nacha’s Smarter Faster Payments 2026 conference in San Diego. The session, titled “Embedded Finance and ‘Payments‑as‑a‑Service’ Models: Navigating Legal Risk,” will examine contractual, compliance and oversight...
SEC Likely to Keep P1 Million Minimum Capital for Lending
The Philippine Securities and Exchange Commission is expected to retain the P1 million (≈ $18,200) minimum paid‑up capital rule for lending firms that do not run online lending platforms (OLPs). At the same time, the agency plans to restrict such low‑capital entities...
Green Check Data Signals Cannabis Market Stabilization as 4/20 Shifts to Loyalty-Driven Event
Green Check’s 2026 4/20 transaction data shows a 120% surge in sales, driven primarily by repeat customers rather than larger baskets. Edibles revenue jumped 54% year‑over‑year, while average order values fell, indicating a shift toward high‑frequency, low‑ticket purchases. Despite 85%...
Forte Bank Chooses CSI as Core Technology Provider to Accelerate Growth and Modernize the Customer Experience
Forte Bank, a Wisconsin community lender, has selected CSI's NuPoint core banking platform together with the Apiture digital‑banking suite. The integrated solution combines core processing, loan origination and an API‑first digital front end, allowing the bank to modernize operations and...
Nuuvia and Emmy Award-Winning Biz Kid$ Launch Financial Literacy Program Giving Financial Institutions the Latest Growth Hack for Winning Over...
Nuuvia announced a partnership with Emmy‑award‑winning Biz Kid$ to embed the program’s financial‑literacy content into its white‑labeled youth banking platform for community banks and credit unions. The integration delivers gamified, TikTok‑style lessons that link real money to budgeting, saving, and entrepreneurship....
Best Student Loan Refinance Rates for April 23, 2026: Credible Leads At 3.66%
Student loan refinance rates have remained steady in early 2026, with variable APRs as low as 3.66% and fixed APRs starting at 3.71%. Credible leads the market on variable rates, while Splash offers the lowest fixed rates. Lenders such as...
Nexi and Visa Partner to Modernise German Card Issuing
Nexi and Visa have signed a long‑term partnership to deliver fully managed card‑issuing solutions to German banks. The collaboration introduces Nexi Ready, an end‑to‑end service that lets banks launch Visa‑branded cards without handling complex operations, compliance, or ongoing development. By...
Kraken Calls for Reform of Digital Asset Taxes as Micro-Transactions Overwhelm Everyday Investors
Kraken disclosed that it issued more than 56 million Form 1099‑DA tax documents for the 2025 tax year, with the majority tied to micro‑transactions—nearly a third under $1, over half $10 or less, and three‑quarters below $50. The exchange argues that current...
BIS Warns Cryptocurrency Exchanges Are Becoming ‘Shadow Banks,’ and Why That's a Risk
The Bank for International Settlements (BIS) issued a 38‑page report warning that cryptocurrency exchanges are morphing into “shadow banks” by offering unsecured lending and high‑yield “earn” products without traditional safeguards. These services pool retail users’ assets into risky activities, lacking...
JPMorgan Readies Fresh Private Credit Push After Needling Market
JPMorgan Chase is launching its most aggressive private‑credit push yet, planning to allocate tens of billions of dollars to loans sourced by its commercial bankers. The asset manager is courting institutional investors to raise several billion dollars and has already...
Rate Hike at the Central Bank of the Philippines
On April 23, 2026, the Bangko Sentral ng Pilipinas lifted its benchmark rate by 25 basis points to 4.50%, its first hike since October 2023. The move reverses a 25‑bp cut made two months earlier, bringing the rate back above the...
Low Impact Amendments Finalisation 2026
On 23 April 2026 the Prudential Regulation Authority released a set of low‑impact amendments to its rulebook. The changes update fee invoice due dates for firms paying £50,000 (about $62,500) or more, delete obsolete MODR references in the Skills, Knowledge and Expertise...
Revolut’s UK Banking Licence Put Mortgages and Its IPO Back in Play
Revolut has secured a full UK banking licence, paving the way for regulated deposit accounts and consumer lending. The fintech is now pursuing licences in France and the United States, with the French approval expected to unlock mortgages and local...
Low Impact Amendments Consultation 2026
On 23 April 2026 the Prudential Regulation Authority released a consultation proposing a suite of low‑impact rule amendments. The changes clarify that firms must apply proportional consolidation when voting rights create participation, replace references to additional own‑funds with a Pillar 2A...