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.
SEBI Reviews HDFC Bank Disclosures After Chakraborty Exit
India’s securities regulator SEBI has launched a review of HDFC Bank’s compliance with disclosure rules after former chairman Atanu Chakraborty resigned abruptly. The resignation letter, citing ethical concerns, triggered an 8.7% plunge in the bank’s shares, erasing roughly ₹1.35 trillion (about $16.5 billion) in market value over three sessions. SEBI’s initial focus is on whether the bank’s filings under the Listing Obligations and Disclosure Requirements accurately reflected board discussions, with the possibility of expanding into a broader governance investigation. The Reserve Bank of India, however, has stated it found no material concerns in its oversight.
Bluefin Launches BluePOS, Aimed at PAX Devices
Bluefin Payment System launched BluePOS, a new payment application built on its PayConex gateway for Android point‑of‑sale devices from PAX Technology. The software handles core transaction functions—authorizations, refunds, voids, tipping, receipts and contactless payments—while allowing Bluefin to develop and update...
MEPs Approve CMDI Package
On 26 March 2026 the European Parliament approved the crisis management and deposit insurance (CMDI) package, bundling the Bank Recovery and Resolution Directive, the Single Resolution Mechanism Regulation and the Deposit Guarantee Schemes Directive. The reforms broaden the resolution framework...
BoE and PRA Streamline Reporting and Disclosure Requirements for Bank Failure Regime
On 26 March 2026 the Bank of England and the Prudential Regulation Authority issued three policy statements that overhaul resolution‑related reporting and Pillar 3 disclosure rules. The MREL reporting templates are streamlined, with the MRL002 forecast template removed and the MRL001...
Behind the Idea: Lorum
Lorum, founded by fintech veteran George Davis, is a specialist correspondent institution that offers a single‑API gateway to global payment rails, settlement and treasury services while keeping client funds on a 100% reserved basis. The firm deliberately avoids lending or...
Cardoso Says the CBN Will Stay the Course as Reforms Yield Dividends
Central Bank of Nigeria Governor Olayemi Cardoso reaffirmed the regulator’s commitment to ongoing reforms, highlighting eleven straight months of disinflation and a newly liberalised foreign‑exchange market that no longer requires intermediaries. He noted that 32 banks have satisfied the latest...
Extend Adds Support for Sage Intacct, Xero, and Microsoft Dynamics 365 Business Central
Extend, an AI‑driven spend and expense platform, announced native integrations with Sage Intacct, Xero and Microsoft Dynamics 365 Business Central, adding to its existing support for QuickBooks and NetSuite. The new ERP connections enable two‑way data synchronization and automated reconciliation, cutting...
Nexi and Danish Banks Expand Partnership to Deliver SEPA Direct Debit Services
Italian payments leader Nexi has deepened its collaboration with three major Danish banks to roll out SEPA Direct Debit services across the Eurozone. The expanded partnership will enable merchants in Italy, Denmark and the wider EU to initiate and settle...
Globacom's MoneyMaster PSB Tweaks Banking App, Gifts Customers Data and Airtime
Globacom’s MoneyMaster Payment Service Bank (MMPSB) has rolled out a refreshed mobile banking app that features a cleaner visual design and streamlined menus for account and denomination selection. The update introduces logical tabs—hot, daily, weekly, monthly, exclusive and special—to organize...
Belfius Bank SA/NV: Credit Rating Report
DBRS Ratings GmbH issued a fresh credit rating report for Belgium‑based Belfius Bank SA/NV and its financing subsidiary on March 18, 2026. The agency affirmed an A long‑term issuer rating and an R‑1 low short‑term rating for both entities, with...
New PXA Stealer Malware Targets Banks, Uses Telegram to Exfiltrate Data
CyberProof reports a 8‑10% surge in PXA Stealer attacks on financial institutions during Q1 2026, positioning the malware as the successor to takedown‑prone infostealers like RedLine and Lumma. The campaign spreads through convincing phishing emails that mimic tax forms, legal notices, or...
Morgan Stanley’s First Bank-Issued Bitcoin ETF Is “Imminent” – Will Sell BTC Directly to Clients
Morgan Stanley has filed with the NYSE to list the Morgan Stanley Bitcoin Trust (MSBT) under ticker MSBT, indicating a spot Bitcoin ETF launch is imminent. The bank’s wealth‑management division oversees roughly $8 trillion in assets, and its internal allocation framework...
NS&I to Pay Out Millions to Bereaved Families After ‘Operational Failure’
National Savings and Investments (NS&I) will pay up to £476 million (approximately $595 million) to bereaved families after an operational failure left around 37,500 deceased customers' accounts untraced. The Treasury has asked NS&I to release a detailed remediation plan in May, outlining...
StoneX Launches New Securitization Banking, Lending & Capital Markets Platform
StoneX Group Inc. (NASDAQ:SNEX) launched a new Securitization Banking, Lending & Capital Markets platform, extending its fixed‑income expertise into structured finance. The platform will offer tailored capital‑market solutions, lending services, and investment opportunities across traditional and emerging asset classes. Led...
Bank Credit Surges 15% Amid Global Crisis, Recovery Expected
Bank credit growth seems to be back big time, with 15% growth at the end of Feb. While we have a global crisis on, the indicators earlier did see good signs. It could suck for a few months, but I...
Dubai Reaches 7th Spot in Global Financial Centres Index, Boosting Investment Banking Ambitions
Dubai has surged to seventh place in the Global Financial Centres Index, its best ever position and the highest for any Middle East, Africa or South Asia hub. The rise reflects rapid growth at the Dubai International Financial Centre, drawing...
London in Second Place After NYC as Top Global Financial Centre Ranking
Z/Yen’s Global Financial Centres Index 39 confirms New York City as the top financial hub, with London holding a close second. The top five cities are separated by just one rating point, while Dubai and Tokyo break into the top ten, pushing...
Fed Governor Barr Warns Iran War Could Stall Inflation Decline and Rate Cuts
Federal Reserve Governor Michael Barr warned that the escalating Iran war could lift oil and gasoline prices, keeping inflation above the Fed’s 2% goal and delaying any further rate cuts. The comment adds a geopolitical layer to the Fed’s dual‑mandate...
Bank of America Gives Merrill Lynch an AI Makeover
Bank of America is deploying AI‑driven tools integrated with Salesforce and Zoom to all 25,000 Merrill Lynch advisors and 4,800 private bankers. The suite automates meeting preparation, real‑time summarization, follow‑up tasks and daily planning, shrinking prep time from roughly 45 minutes...
The Emotional Toll of Financial Fraud
In this episode of Payments Journal, host Rima Katz talks with Dal Sahota of LSEG Risk Intelligence and Suzanne Sando of Javelin about the rising emotional and behavioral toll of financial fraud worldwide. Their research shows that 71% of adults...
How KeyBank and Qolo Are Modernizing Corporate Treasury without Ripping Out the Core
KeyBank teamed with fintech Qolo to launch a real‑time virtual account management (VAM) platform that sits atop the bank’s legacy core. The solution gives corporate treasurers instant sub‑account creation, consolidated balance visibility and API‑driven data flows. In its first year...
The 'Blame Game' In Private Credit Begins
The U.S. Securities and Exchange Commission has opened a formal inquiry into Egan‑Jones, a niche credit‑rating firm that underpins much of the private‑credit market, questioning whether its ratings are produced with integrity. At the same time, a wave of redemption...
National Savings & Investments Expected to Pay Millions to Customers over Misplaced Funds
National Savings & Investments (NS&I), the Treasury‑backed savings bank serving over 24 million customers, is facing accusations that it failed to pay death‑benefit premiums to roughly 37,000 bereaved families. The dispute could result in compensation running into the hundreds of millions...
Transparency Data: CCP Resolution Liaison Panel Minutes 2025
The Treasury released minutes from the CCP Resolution Liaison Panel (RLP), a body created under paragraph 10 of Schedule 11 to the Financial Services & Markets Act 2023. The RLP advises the Treasury on how the new CCP resolution regime affects clearing houses,...
How Morgan Stanley Uses GitOps to Manage 500 Production Kubernetes Clusters
Morgan Stanley has deployed a GitOps workflow powered by Flux to operate 500 production Kubernetes clusters, hosting roughly 100,000 containers on 2,000 nodes. The bank needed a unified, auditable process to meet stringent regulatory and security mandates while scaling its...
Russia Caps Cash Ruble Exports to EAEU at $100,000 per Person From April 1
President Vladimir Putin signed a decree that, effective April 1, 2026, prohibits individuals from exporting cash rubles worth more than $100,000 to Eurasian Economic Union (EAEU) members. Legal entities and individual entrepreneurs are barred from any cash export, with limited...
Arbuthnot Banking Group Posts 28% Profit Drop as UK Regional Banks Feel Pressure
Arbuthnot Banking Group announced full‑year earnings of £17.81 million ($22.6 million), a 28% decline from the prior year, while revenue fell 3.6% to £148.37 million ($188.4 million). The results underscore mounting pressure on UK regional banks from higher funding costs and digital competition.
Best CD Rates Today, March 26, 2026 (Lock in up to 4.1% APY)
Certificate of deposit (CD) rates remain elevated, with the top offering a 4.1% APY on an 11‑month term from Capital One and no minimum deposit. Online banks are also posting rates above 4% APY, outpacing traditional savings accounts. The Federal...
Best High-Yield Savings Interest Rates Today, March 26, 2026 (Top Account Pays 4% APY)
High‑yield savings accounts remain a strong option for consumers, with the top rates hovering around 4% APY as of March 26 2026. SoFi and Valley Bank Direct currently lead the market, each offering a 4% annual percentage yield. Rates have been trending...
Mortgage Order Adds More Rules to Diminished CFPB's Load
President Trump issued a March 13 executive order urging the Consumer Financial Protection Bureau to revisit the Ability‑to‑Repay and Qualified Mortgage rules so smaller banks—those under $100 billion and community banks under $30 billion—can more easily compete in the mortgage market. The CFPB...
AI Is Making Your Local Financial Institution More Human, Not Less
Community banks and credit unions are adopting artificial intelligence to streamline back‑office tasks, not replace staff. AI instantly gathers and verifies loan documents, cutting processing time from days to minutes while keeping human bankers in charge of relationship‑focused advice. The...
DNB and Two Partner to Bring AI-Powered Innovation to Nordic B2B Payments
DNB, Norway's largest bank, has teamed up with fintech firm Two to launch an AI‑driven platform for B2B payments across the Nordics. The collaboration will embed machine‑learning fraud detection, real‑time invoice reconciliation, and predictive cash‑flow insights into DNB's corporate banking...
Bank of England IT Project Offers Lessons for Wider Government
Britain’s central bank completed a nine‑year, £431 million (≈$540 million) overhaul of its Real‑Time Gross Settlement system, delivering a resilient, interoperable platform that processes about £800 billion (≈$1 trillion) of payments daily. The National Audit Office praised the project for value for money despite...
Lenders Pull Entire Range of New Mortgage Deals
Some UK lenders have withdrawn their entire range of new mortgage deals amid heightened Gulf conflict. Swap rate volatility pushed average mortgage rates up to 5.5% from 4.91%, with two‑year fixed rates hitting 5.56% and five‑year at 5.54%. Clydesdale Bank,...
NAB Slashes 170 Jobs, Moves Roles Offshore, Raises Margin Risk
Macro: NAB cuts ~170 net jobs as it shifts roles offshore; sector cuts persist. Drivers: cost, 237 offshore hires (India/Vietnam). Risks: execution, reputation. Trade: short NAB on margin risk 📉 — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
Norges Bank Signals Upcoming Rate Hike This Year
🇳🇴 Norges Bank hawkish pivot charted. The policy rate is expected to be raised "at one of the forthcoming meetings" assuming the economy "evolves broadly as currently envisaged". https://t.co/3LIbGfEvOW
Charles Schwab Posts Record $519 B Net New Assets in Q4 2025, Lifting Total Client Assets to $12 T
Charles Schwab announced $519 billion of net new assets in the fourth quarter of 2025, a 42% annual increase that pushed total client assets past $12 trillion. The firm also posted a record $23.9 billion in total net revenue and a 50% jump...
Big Banks Set to Lead Next Crypto Adoption Phase
🚨 LATEST CEO of the largest custodian bank in the world BNY Global, Robin Vince, says large banks will drive the next phase of crypto adoption, positioning traditional financial institutions as the bridge between digital assets and mainstream finance. https://t.co/T3ACuwzQl0
Home BancShares Secures Federal and State Approval to Merge with Mountain Commerce Bancorp
Home BancShares, Inc. has obtained regulatory clearance from the Federal Reserve Board and the Arkansas State Bank Department to merge with Mountain Commerce Bancorp, Inc. The approval paves the way for a deal expected to close in early Q2 2026,...
Capital One and Chase Slash Airport Lounge Guest Privileges, Adding Fees and Caps
Capital One and Chase announced tighter airport lounge rules for their premium cards, cutting unlimited guest access, imposing $45 adult and $25 child fees, and charging $125 per authorized user. The changes, effective Jan. 15 and Feb. 1, signal a...
Deposit Insurance Expansion Misses Small Business Reality
Expanded deposit insurance for noninterest bearing accounts helps small businesses? What small business keeps over $250k in a zero yield account? If this is how banks think they are going to preserve deposits, the logic needs to be reexamined.
Swiss National Bank Says 2025 Saw Record Swiss Franc Bond Issuances
The Swiss National Bank disclosed that 2025 delivered a record volume of new Swiss franc bond issuances and a surge in issuers, signaling deeper market liquidity. While exact figures were not disclosed, the report came alongside the SNB’s decision to...
House Republicans Block Senate Tie‑up of Housing Bill and Community‑Bank Crypto Deregulation
House Republicans voted to reject a Senate amendment that would have linked a housing‑affordability bill to a package loosening crypto rules for community banks. The move leaves the housing measure and pending crypto‑related banking reforms on separate tracks, heightening uncertainty...
JPMorgan Launches $8 Billion Junk‑bond Sale to Fund Record $55 Billion EA Leveraged Buyout
JPMorgan Chase has kicked off an $8 billion junk‑bond sale to finance a $55 billion leveraged buyout of Electronic Arts, the biggest LBO in history. The deal, led by Saudi Arabia’s Public Investment Fund, Silver Lake and Jared Kushner’s Affinity Partners, mixes...
Muddy Waters Publishes $1.8 B Fair‑Value Critique of SoFi, Sparking Short‑Sell Surge
Muddy Waters Research issued a 28‑page short thesis on SoFi, alleging that the neobank’s fair‑value adjustments and loan‑sale structures inflate EBITDA by hundreds of millions. The report highlights $1.1 billion in personal‑loan fair‑value gains and a potentially understated charge‑off rate of...
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Comprehensive Guide to Due-on-Sale Clauses: What They Are and Their Exceptions
A due‑on‑sale clause obligates borrowers to repay the entire mortgage balance if the property is sold or transferred, protecting lenders from interest‑rate risk. Most U.S. mortgages contain this provision, but notable exceptions exist for divorces, inheritances, and transfers to living...
Fintech Hype Proved Wrong as Synapse Collapses
Isn’t this just a paraphrasing of @astrange’s “every company will be a fintech” thesis? Which not only didn’t come true, but saw thousands of consumers lose millions of dollars when Synapse, which Strange was a board member of, catastrophically collapsed.
Mortgage Rates Surge, Home Purchase Applications Plummet 35%
There Goes the Spring Selling Season: Mortgage Rates Jump, Mortgage Applications to Purchase a Home Drop. Mortgage purchase applications are down by 35% from the same period in 2019 in a housing market that remains frozen https://t.co/sR0N0Jznl0 https://t.co/Hkfy4IziDs
TrueLayer Hires Satispay and Klarna Veteran as Head of Ecommerce to Scale Pay by Bank in Europe
TrueLayer has appointed Stefano De Lollis, a veteran who grew Satispay’s ecommerce arm and held senior roles at Klarna’s Sofort Banking, as Head of Ecommerce. The move comes as TrueLayer’s transaction volumes are nearly doubling year‑over‑year. Its Pay by Bank...
Mortgage Loans From 2008 Are Back, and Collectors Want Double
Homeowners are being hit with surprise collection demands for pre‑2008 second mortgages, often called zombie mortgages, that were written off but never formally discharged. Debt buyers acquired these dormant liens for as little as four to seven cents on the...