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
HELOC for Kitchen Remodel: Pros, Cons, and How It Works
Homeowners can finance kitchen remodels with a home equity line of credit (HELOC), a revolving credit secured by their property that allows borrowing as needed during a 3‑10‑year draw period. Because interest accrues only on funds drawn, borrowers often pay less than with lump‑sum loans, while variable rates track the prime rate, though some lenders offer fixed‑rate portions. Lenders typically limit combined loan‑to‑value at 80‑90%, meaning a $400,000 home with a $250,000 mortgage could yield about $70,000. Proper budgeting and repayment planning are essential to avoid over‑borrowing and foreclosure risk.
François-Louis Michaud to Take up His Role as Chair of the European Banking Authority
François‑Louis Michaud has been appointed Chair of the European Banking Authority, taking office on 16 April 2026 after a Council selection on 26 February and European Parliament confirmation on 10 March. He previously served as the EBA’s Executive Director since September 2020, bringing supervision experience...
IMF Chief Visits Philippines to Deepen Collaboration Amid Asean Chairship
The International Monetary Fund’s Managing Director Kristalina Georgieva visited Manila from March 11‑13, 2026, to deepen collaboration with the Bangko Sentral ng Pilipinas. The trip coincides with the Philippines’ chairmanship of the ASEAN summit, positioning the country as a regional...
FAB Hosts Virtual AI Agentathon with Presight and Microsoft to Boost Enterprise AI
First Abu Dhabi Bank (FAB) convened a virtual AI Agentathon on March 30, 2026, partnering with AI specialist Presight and tech giant Microsoft. The one‑day sprint brought together four cross‑functional teams to prototype AI‑driven solutions for real banking challenges, marking...
Insufficient Source Material to Report on Vietnam's Real‑name Bank Account Mandate
No verifiable sources were provided to confirm Vietnam's plan to require real‑name registration for all bank accounts starting April 2026, so a factual report cannot be produced.
FTC Report Shows $12.5 B Lost to Bank‑Account Fraud, Up 25% YoY
The Federal Trade Commission released its 2024 annual fraud report, finding that Americans lost $12.5 billion to bank‑account scams—a 25% increase from 2023. The surge underscores growing vulnerabilities in digital banking and puts pressure on fintech companies to upgrade fraud‑prevention tools.
The Best Savings Accounts for Retirees to Maximize Your Cash
Retirees seeking low‑risk cash growth are urged to evaluate high‑yield savings accounts, money‑market accounts, standard CDs, and jumbo CDs. High‑yield online accounts can offer APYs that outpace inflation, while money‑market products add debit‑card access at a modest rate trade‑off. For...
Credit Card Annual Fees Are Soaring Past $800. Here’s Why People Keep Paying Them—Even as Perks Are Harder to Come...
Premium credit cards are now charging annual fees that top $800, with Robinhood, JPMorgan Chase, American Express, and Citi all offering high‑fee products packed with travel credits, dining allowances and exclusive lounge access. Issuers argue that stacked monthly credits and...
15 Regulatory Transaction Reporting Leaders, Europe – (2026 Edition)
European transaction reporting has moved from deadline compliance to demonstrable data control, as regulators tighten focus on quality, reconciliation and traceability. The EMIR Refit, effective April 2024, raised granularity and validation demands, and by early 2026 regulators are actively enforcing...
My Key Takeaways From MPE 2026 in Berlin.
The 2026 Money Payments Europe (MPE) conference convened in Berlin, spotlighting AI, cross‑border payments, stablecoins, and the emerging digital euro. Panels explored agentic commerce, pragmatic innovation in payment stacks, and the next generation of tokenization aimed at eliminating PANs by...
Buy, License, or Build? Why Most Firms Struggle to Enter the UAE
Global firms are increasingly targeting the UAE as a financial and technology hub, but many stumble because they treat entry options—buy, license, or build—as interchangeable. The article argues that aligning the chosen route with the UAE's fragmented regulatory landscape (DIFC,...
Tokenized Deposits Outperform Stablecoins by 1250% Efficiency
Why Tokenized Deposits Are More Efficient Than Stablecoins: The 1250% Efficiency Gap Banks Can’t Ignore This Week's Topics: ↳ Why Tokenized Deposits Are More Efficient Than Stablecoins: The 1250% Efficiency Gap Banks Can’t Ignore ↳ I Found a Prompt Injection Attack Buried...
Market Prices Known Risks, Misses Hidden Threats
Widely discussed risks are often priced in. The real threats tend to be overlooked. #RiskManagement #MarketInsight https://t.co/PWgmCJwWDp
Transforming the Payment Experience: How Consumers Are Steering Payment Innovation
The Discover Network’s Payments State of the Union survey shows that 91% of U.S. shoppers have adopted digital payments, with 61% using a digital wallet in the past 90 days and mobile‑wallet usage climbing to 69% since 2021. Consumers are...
Standard Bank CIB Global Markets Leads the Field at JSE Spire Awards 2026
Standard Bank’s Corporate and Investment Banking Global Markets division captured top honours at the 2026 JSE Spire Awards, being named Overall Best Fixed Income and Forex House. The peer‑reviewed awards, driven by South Africa’s largest institutional investors, also saw the...
Capital A Taps Former CIMB Heavyweight as Deputy CEO
Capital A announced the appointment of former CIMB executive Effendy Shahul Hamid as deputy chief executive officer, effective 6 April 2026. The move follows the group’s recent divestiture of its aviation businesses to AirAsia X, signaling a strategic shift toward its core digital...
European Bank Stocks to Snap Record Quarterly Run on Iran, AI
European bank stocks are set to break a historic 13‑quarter winning streak as the Stoxx 600 Banks Index slides 8.7% year‑to‑date. The rally, fueled by strong earnings and robust capital returns, is now being eclipsed by heightened geopolitical tension from...
Secured Credit’s Next Turn: Unlocking Growth With Dynamic Funding
Secured credit is being reinvented as a growth engine for banks and fintechs through dynamic funding models that lock only the amount actually spent. Traditional secured cards required double funding and separate collateral accounts, creating liquidity friction for underserved consumers....
Gen Z Digital Wallet Use Climbs 21% as Budgets Tighten
A PYMNTS Intelligence survey of 2,108 U.S. adults shows digital wallet usage soaring, especially among Gen Z, where adoption for retail purchases more than doubled to 36%—a 21% increase since March 2024. Consumers experiencing high financial stress are twice as likely...
Why Payroll Is Becoming the Latest Loyalty Product
Instant payouts are evolving from a convenience into core payroll for gig‑economy workers, with the PYMNTS Intelligence report showing that 68% of users who try instant disbursements become regular users. The study highlights that digital wallets deliver the highest stickiness...
CFOs Are Using Stablecoins More Like ACH Than Digital Assets
The latest PYMNTS Intelligence report finds that 88% of firms receiving stablecoins immediately convert them into U.S. dollars, treating the tokens as a fast payment rail rather than a store of value. CFOs are leveraging stablecoins to accelerate cross‑border and...
Tokenization Is Nothing New
The article traces tokenization back to 9,000 BCE clay bullae, the first structured data objects used to record ownership of grain, livestock and other goods. It argues that today’s digital assets and programmable money are not new financial inventions but extensions...
SCCA Wins Major Concessions over Gift Card Laws
The Australian regulator Austrac finalized AML/CTF amendment rules that exempt gift cards up to AU$5,000 (≈US$3,300) from additional customer due‑diligence requirements. The Shopping Centre Council of Australia (SCCA) lobbied for the change, arguing that gift‑card schemes are low‑risk and already...
Bank Holidays April 2026: 14 Days of Closures Across India—Check Full List
India’s banks will observe at least 14 holidays in April 2026, including nationwide closures for Good Friday, the second and fourth Saturdays, and a cluster of regional festivals on 14 April. The most disruptive day is 14 April, when Dr Ambedkar Jayanti, Tamil New...
Starling Unveils UK's First Agentic AI Money Manager
Starling Bank just gave its AI permission to move your money. Not advise. Execute. Starling's agentic assistant is live and the CIO chairs the Bank of England's AI Taskforce. Starling Bank Launches UK's First Agentic AI Money Manager https://t.co/guiDaZ3vdT
AI vs Fraud and Stablecoins as Infrastructure
Let's go! I'm in Las Vegas for Fintech Meetup 2026, hitting the stage tomorrow for two insightful discussions - 'Can AI Fight Fraud Faster Than Fraud Fights Back?' and 'Are Stablecoins Finally The Infrastructure, Not The Asset?' Will you be there? #FintechMeetup...
Standard Bank Moved R164-Trillion in Payments in 2025
Standard Bank processed more than R164 trillion (about $9 trillion) in payments during 2025, confirming its status as Africa’s largest transactional franchise. The bank handled 2.3 billion transactions, a 9% increase, driven by electronic channels, merchant acquiring, and rapid adoption of instant and...
Westpac: Triple Hike Expected to Take Cash Rate to Highest Seen Since GFC
Westpac has revised its outlook, expecting the Reserve Bank of Australia to lift the cash rate to 4.85% by year‑end, the highest level since the Global Financial Crisis. The bank predicts three consecutive 0.25‑percentage‑point hikes in May, June and August,...
UK’s Digital Bank Monzo Reports 15M+ Customers
Monzo announced it has surpassed 15 million customers, marking a major milestone for the UK challenger bank. The growth includes more than one million accounts held by users under 16, reflecting its strong youth‑focused offering. Over half a million customers are...
Davis Polk Discusses Federal Banking Agency Guidance on Capital Treatment of Tokenized Securities
The Office of the Comptroller of the Currency, the Federal Reserve Board and the FDIC issued FAQs clarifying that tokenized securities receive the same capital treatment as their traditional counterparts only when they confer identical legal rights. The guidance defines...
SinoPac to Merge with King’s Town, Forming $100 Bn Taiwanese Banking Giant
Taiwan’s SinoPac Bank announced a board‑approved merger with King’s Town Bank, issuing 1.865 bn new shares at NT$24 ($0.78) per share and a cash component to acquire the rival. The combined entity will be valued at roughly $100 bn, marking the largest...
Rising U.S. Mortgage Rates Threaten Spring Home‑Buying as Treasury Yields Climb
U.S. mortgage rates have jumped sharply, creating a major obstacle for the spring home‑buying season. The rise is tied to higher Treasury yields as geopolitical tensions lift oil prices and weigh on global bond markets.
Tazapay Raises $36M Series B to Scale Cross‑Border Payments in Asia, LATAM, MENA
Tazapay, the Singapore‑based payment‑infrastructure startup, closed a $36 million Series B extension led by Circle Ventures with new participation from CMT Digital and Coinbase Ventures. The capital will fund licensing expansion and go‑to‑market pushes in Asia, Latin America and the Middle East,...
Ripple Nears Launch of U.S. National Trust Bank as OCC Rules Take Effect
Ripple is advancing toward the launch of its National Trust Bank after receiving conditional approval from the OCC in December. The bank would become the first U.S. chartered institution built around digital assets, leveraging the upcoming OCC digital‑asset amendments that...
Saudi Central Bank Issues Open‑Banking Licences to Fintech Firms
The Saudi Central Bank (SAMA) announced the issuance of open‑banking licences to fintech companies, granting them formal access to banks' data APIs. The regulatory step aims to accelerate digital payments, lending and wealth‑tech services in the kingdom, though the exact...
Ireland to Launch Tax‑free Savings Scheme Modeled on Sweden’s ISK
Ireland’s finance minister Simon Harris unveiled a state‑backed savings and investment account that will eliminate capital gains tax for retail investors. Modeled on Sweden’s Investeringssparkonto, the scheme is slated for inclusion in the 2027 budget and could redirect €170 billion of...
SadaPay Restored After AWS Bahrain Outage
SadaPay’s mobile app was completely offline on March 25 after a drone strike damaged the Amazon Web Services data centre in Bahrain, a critical hub for the fintech’s infrastructure. The outage halted the app for all users, though debit‑card, ATM and...
Compensation Details for Millions of Drivers Set to Be Revealed
The UK Financial Conduct Authority (FCA) is set to publish its final rules for a compensation scheme covering 14 million motor‑finance agreements, many of which were sold with undisclosed commission arrangements. The regulator estimates an average payout of about £700 (≈$875)...
Custodia Bank Clarifies Fed Master Account Listing as Hazel Network Partnership Advances
Custodia Bank clarified that its recent appearance in the Federal Reserve’s master‑account database reflects a partnership entry, not a fresh application for direct Fed access. The listing ties to its collaboration with Texas‑based banks in the Hazel Network, which offers...
![[Targeted] Signup for Venmo Credit Card & Get Triple Rewards (9% Back On Top Category)](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2019/10/venmo.png)
[Targeted] Signup for Venmo Credit Card & Get Triple Rewards (9% Back On Top Category)
Venmo is re‑launching a targeted credit‑card promotion that delivers triple‑cash‑back for six months—9% on the top spend category, 6% on the second, and 3% on all other purchases. The offer carries no annual fee, no sign‑up bonus, and imposes no...
Congress Proposes Removal of Widely Used Bitcoin Tax Loophole and Giving It to Regulated Stablecoins
Congress introduced the bipartisan Digital Asset PARITY Act, a discussion draft that expands the wash‑sale rule to actively traded cryptocurrencies and related derivatives, effectively closing the long‑standing Bitcoin loss‑harvesting loophole. The legislation applies the same 30‑day replacement window used for...
Chasing Ultimate Rewards Redemption Back to This Entry Level
Chase customers can again cash out Ultimate Rewards points at one cent per point after a six‑year hiatus. The author, Benjy Harmon, describes his shift from high‑value Pay Yourself Back redemptions back to plain cash following recent policy changes that...
NAB Is Co-Designing a SIEM with Databricks
National Australia Bank (NAB) has joined four other design partners to co‑design Lakewatch, a new security information and event management (SIEM) platform built on Databricks. The solution, currently in private preview, leverages the bank’s existing Databricks‑on‑AWS data lake, Ada, to...
Fannie Mae Approves Crypto‑Backed Collateral for First‑Time Home Loans
Fannie Mae has authorized a new mortgage product that lets borrowers pledge Bitcoin or USDC as collateral for down payments, partnering with digital lender Better Home & Finance and Coinbase. The move, overseen by the FHFA, creates a two‑tier loan...
Compliance as Code: GENIUS Act Redefines Financial Infrastructure
🔺 Is the "old era" of compliance finally dead? 🪦 In this episode of Fintech Conversations & Insights, Beth Haddock (Stablecoin Standard) explains why the GENIUS Act is forcing a total rethink of financial infrastructure. We dive into: ❌ Why "Honeypot" data collection...
UAE’s Closure Drives Iran Toward Chinese Banking
The faster UAE closes money window on Iran, quicker China becomes Iran's banker. 1)China pays for Iranian oil into Chnse bank accts2) Iran buys gold w CNY in Shanghai's CNY gold mkt & do what Russia did w China after...
Bank of America Agrees to $72.5 Million Epstein Lawsuit Settlement
Bank of America has agreed to a $72.5 million settlement to end a lawsuit claiming the bank helped Jeffrey Epstein move money and evade scrutiny. The deal, announced Thursday, underscores heightened regulatory pressure on major banks to tighten anti‑money‑laundering controls.
Banks Triple PE Lending, Funds Now Highly Leveraged
Banks have tripled lending to private equity and credit since 2018 to over $300 billion. As a result, funds that invest in highly leveraged companies have themselves become leveraged. https://t.co/HbKAJUCFch https://t.co/RAeUMBVcKG
Stablecoins Serve Unbanked Merchants, Not Replace Cards
My conversation with @nlevine19 and @robbiepetersen_ crystallized something: stablecoins aren’t replacing cards. They’re serving the merchants that cards can’t reach. https://t.co/CPDcFRHO46
RBI Unveils Payments Vision 2028: E‑Cheques, Platform Oversight and New Cross‑Border Rails
The Reserve Bank of India has released its Payments Vision 2028, a three‑year roadmap that proposes electronic cheques, tighter oversight of digital commerce platforms and a revamp of cross‑border payment mechanisms. The plan aims to deepen trust, broaden inclusivity and...