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
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 dollar and are now adding decades of accrued interest, pushing original balances of $30,000 to $75,000 or more. The surge in post‑pandemic home equity has turned these once‑worthless liens into lucrative assets, prompting aggressive legal actions across the United States. Federal guidance and a patchwork of state laws offer limited protection, leaving many borrowers vulnerable.
IDB Invest and Total Servicios Financieros Boost Financing for MSMEs in Peru
IDB Invest is providing a revolving loan of up to $10 million to Total Servicios Financieros, with an additional $10 million expected from third‑party investors, to broaden financing for Peru’s micro, small and medium‑sized enterprises (MSMEs). The funds will support factoring and financial leasing...
Press Release - Fiscal-Year 2025 Results: AFL Group Delivers Record Results, Doubling Its Net Profit
AFL Group posted record fiscal‑year 2025 results, doubling net profit to €10.8 million (about $11.9 million) and lifting net banking income 28% to €30.8 million ($33.9 million). The bank’s gross operating income surged 70% to €13.3 million, while its CET1 capital ratio climbed to 59.45%...
Canadian Regulator Secretly Threatens Banks Over Risky Mortgages Ahead of 2027
Canada’s banking regulator OSFI has moved from informal concerns to formal legal warnings that major banks may be breaching the Bank Act by using stale, blanket appraisals for pre‑construction mortgages. The watchdog cites rising default risk as new‑home prices are...
House Gives Deposit Insurance Reform Another Try
The House Financial Services Committee unveiled a new legislative package to reform deposit insurance, featuring a revised Main Street Depositor Protection Act that caps coverage for non‑interest‑bearing business accounts at $5 million, down from earlier proposals of $10‑$20 million. The bill delegates...
Financial Services Roundup: Market Talk
Mastercard says stablecoins won’t threaten its core consumer payments, emphasizing its dispute‑resolution and fraud protection layers as non‑replicable. The firm sees the biggest growth potential in B2B cross‑border payments, remittances and the gig economy where card penetration is low. American Express...
Robinhood Markets Now Offers Banking Services, Gold Card to Streamline Spending, Trading, Investing
Robinhood has launched the Gold Card, a no‑annual‑fee credit card that delivers a flat 3% cash back, and expanded its banking suite with high‑yield savings accounts paying up to 4.25% APR. The premium Gold tier costs $5 per month and...
FSOC Guidance Sets 'Very High' Bar for Nonbank Designation
The Financial Stability Oversight Council voted to issue guidance that pivots to an activities‑based framework for designating non‑bank firms as systemically important, reinstating the high‑threshold standards first used in 2019. The proposal rescinds the Biden‑era rule that lowered the bar,...
Apollo's Insurance Arm Vaults to Second-Biggest FHLB Borrower
Apollo Global Management's insurance subsidiary Athene Holding became the second‑largest borrower in the Federal Home Loan Bank (FHLB) system, holding $23.3 billion in principal advances at the end of 2025. This marks a sharp rise from $15.6 billion in 2024 and places...
BitGo Teams with ZKsync to Build Tokenized Deposit Infrastructure to Bring Banks Onchain
BitGo and ZKsync have begun testing a full‑stack solution that lets banks issue and settle tokenized deposits on a permissioned, privacy‑preserving blockchain. The joint platform combines BitGo’s institutional custody services with ZKsync’s Prividium network, aiming to keep funds within existing...
How to Simplify and Improve the Lending Reports Process
Effective lending reports turn massive loan data into actionable insight, strengthening investor confidence and strategic decision‑making. By concentrating on core performance metrics—origination volume, default rates, loan‑to‑value ratios, and interest‑rate spreads—organizations avoid information overload. Structured formats that begin with an executive...
Echelon Bank to Join 'Trickle' Of De Novos in Florida
Echelon Bank has met its $23 million capital target and secured both Florida state and FDIC approvals, positioning it to open in late May as Tampa Bay’s first new bank in five years. The launch joins a scant handful of de novo...
Private Credit Sector Could Benefit From New Bank Capital Rules
U.S. regulators are drafting new bank capital rules that would lower the risk‑weight for certain securitization exposures from 20% to 15%. The change treats loans to special purpose entities holding private‑credit assets as less risky, encouraging banks to extend more...
$300 AI Tool Kits Let Criminals Bypass Bank Security
Criminals can now purchase AI‑enabled identity‑fraud kits for under $300, combining stolen personal data, synthetic‑material printers and deep‑fake software to bypass bank KYC checks in minutes. Demonstrations at the 2026 RSAC conference showed tools like ProKYC feeding fabricated videos into...
Singapore’s Central Bank Pilots XRP Ledger for Cross-Border Trade
Singapore’s Monetary Authority has invited Ripple to join its Borderless, Liquid, Open, Online, Multicurrency initiative, using the XRP Ledger and Ripple’s USD‑linked stablecoin (RLUSD) to settle cross‑border trade. The pilot automates payment release the moment a shipment is verified, eliminating...
M&T Bank Deploys $138M for Philly Affordable Housing Project
M&T Bank is providing a $62.1 million construction loan and a $30.2 million tax‑credit equity investment as part of a $137.5 million financing package for the Philadelphia Housing Authority’s Westpark Redevelopment. The project will deliver 327 mixed‑income units, including 190 affordable apartments for...
Invesco Acquires Superstate Tokenized MMF, Marking Trad
BOOM: Invesco to Acquire Superstate's USTB Tokenized MMF Management One of first acquisitions of a crypto-native fund by TradFi asset manager. TradFi now majority of top 10 tokenized MMFs $2.2T asset manager Invesco acquiring management of $USTB ($950M AUM, 5th largest tokenized...
Earn $150 with New Varo Money Account, Plus $150 for Referrals
Varo Bank is offering a $150 cash bonus to new customers who receive at least $500 in qualifying direct deposits within 45 days, with the promotion running through March 31, 2026. The bonus is deposited into the account within 4‑7 business days...
Minnesota Bank Bolsters C-Suite with Climate First Alums
B2 Bank, a Minnesota community lender owned by fintech entrepreneur Brian Barnes, has appointed three former Climate First Bank executives—Ryan Jaskiewicz as CEO, Chris Cucci as president, and Chris Van Buskirk as chief credit and risk officer. The new C‑suite brings...
Earn $400 Bonus with High‑Yield Savings & Checking
What's that number for you? 👇🏾 Whatever it is, the right account makes it easier to get there. My favorite High Yield Savings + Checking account combo just bumped their welcome bonus to $400 for new members. That's $400 closer on...
MISMO, ALTA Issue New Title, Settlement Document Guidelines
The Mortgage Industry Standards Maintenance Organization (MISMO) and the American Land Title Association (ALTA) have released two new digital datasets covering ALTA title policies and settlement statements. These standards convert traditional paper forms into structured data, enabling seamless exchange across...
Stablecoins, Trust Banks and World Liberty Financial International
World Liberty Financial International (WLFI) introduced USD1, a Treasury‑Bill‑backed stablecoin, after the One Big Beautiful Bill and the GENIUS Act created a federal framework for digital‑asset trust charters. The Office of the Comptroller of the Currency approved national trust charters...
Liminal Custody and Securosys Unveil MPC‑Based HSM Vaults for Enterprise Digital Assets
Liminal Custody and Swiss security firm Securosys announced Liminal HSM Vaults, a hardware security module solution that blends multi‑party computation with FIPS‑certified HSMs. The product targets banks, custodians and large enterprises as digital‑asset AUM is projected to exceed $10 trillion by...
Dubai Aerospace Enterprise Secures $2.8 Billion Unsecured Revolving Credit Facility
Dubai Aerospace Enterprise (DAE) Ltd announced a $2.8 billion unsecured revolving credit facility, replacing a $1.4 billion line and lifting its total revolving capacity to roughly $4 billion. The facility, maturing in March 2031, blends conventional and Sharia‑compliant funding from 15 global banks,...
Regulators Cut Reserve Requirements, Unlocking $175 Billion for U.S. Banks
The Federal Reserve, FDIC and OCC voted on March 19 to overhaul reserve‑requirement rules for the nation’s largest banks, cutting capital buffers by up to 7.8%. The change releases roughly $175 billion of excess equity, paving the way for more aggressive...
Visa to Bring Privacy-Preserving Payments to Canton Network
Visa announced it will serve as the first payments‑industry Super Validator on the Canton Network, a privacy‑preserving blockchain built for regulated finance. As one of 40 Super Validators, Visa will help banks and financial institutions run secure, on‑chain payment flows...
Barclays Pulls Back on Asset-Based Loans After MFS, Tricolor
Barclays is scaling back its asset‑based lending to smaller borrowers after taking losses from the collapses of Market Financial Solutions (MFS) and Tricolor Holdings. The bank is redirecting capital toward larger corporate loans and securitizations, and has raised pricing on...
Court Upholds $133M FINRA Award Against Stifel
A Florida federal judge affirmed FINRA's $133 million arbitration award against Stifel, ending the firm's year‑long effort to overturn the penalty. The award relates to former broker Chuck Roberts' unsuitable structured‑note sales that harmed the Jannetti family, who originally sought $5 million....
Happy Pay Secures $5M Seed to Expand BNPL Across Africa
𝗥𝗲𝗶𝗻𝘃𝗲𝗻𝘁𝗶𝗻𝗴 “𝗕𝘂𝘆 𝗡𝗼𝘄, 𝗣𝗮𝘆 𝗟𝗮𝘁𝗲𝗿” 🇿🇦 South African fintech Happy Pay has raised $5 million in seed funding, in a round led by global venture capital firm Partech, 𝗮𝘀 𝗶𝘁 𝗹𝗼𝗼𝗸𝘀 𝘁𝗼 𝘀𝗰𝗮𝗹𝗲 𝗮 𝗻𝗲𝘄 𝗺𝗼𝗱𝗲𝗹 𝗼𝗳 𝗰𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗰𝗿𝗲𝗱𝗶𝘁 𝘁𝗵𝗮𝘁 𝗿𝗲𝗺𝗼𝘃𝗲𝘀...
Mortgage Applications Up YoY, Weekly Demand Drops
#Mortgage purchase application data remains positive year over year, but weekly demand declined last week. @housingwire @sarahteresa6 #realestate #economics #mortgagerstes #chartdaddy
Kenyan, South African Banks Make World’s 10 Strongest Banking Brands List
Four African banks—Kenya’s Equity Bank and KCB, and South Africa’s Capitec and First National Bank—ranked between sixth and ninth in Brand Finance’s 2026 Banking 500 strongest banking brands list. Equity Bank led Africa with a 93.9 Brand Strength Index, while...
How Top U.S. Acquirers Ranking Changed Following Acquisitions
Global Payments has seized the top spot in the 2026 TSG U.S. merchant acquirer ranking, driven by its $24.5 billion acquisition of Worldpay. The deal adds roughly $1.9 trillion of processing volume, lifting Global’s estimated 2025 volume to $2.8 trillion and pushing JPMorgan...
FCA CP26/10: Simplifying the Pensions and Investment Advice Rules
On 25 March 2026 the FCA published Consultation Paper CP26/10 to simplify pensions and investment advice rules. The paper proposes merging COBS 9 and 9A into a single framework, deleting overlapping rules covered by the Consumer Duty, and redefining suitability assessments...
Banking's Next Growth Move
In this March 2026 episode of This Month in Banking, host Tara Ween interviews Matt Burke, CEO of Mutual Bank Corp., about the next growth strategies for community banks. Burke explains how the post‑COVID stimulus, rapid interest‑rate hikes, and shifting...
Kenya’s I&M Bank Hits 98% Digital Usage as Growth Shifts to Revenue per User
I&M Group reported that 98% of its 727,000 customers now transact digitally, signaling that Kenya’s banking sector has largely completed the migration to online channels. The bank’s non‑interest income surged 31% to $111 million and assets under management jumped 223% to...
Stripe, Affirm Merge BNPL with Agentic AI, Klarna Joins
Affirm and Stripe Team to Combine BNPL and Agentic AI SPTs let ANY merchant offering Affirm accept transactions in agentic flows (even without direct Stripe integration). Stripe direct merchants get capability now, non-Stripe merchants later 2026. Stripe also announced parallel Klarna...
Tokenized Money Market Funds Extend the Bank Walk
My friend @biancoresearch used to call it the bank walk from checking accounts to money market funds. From firsthand experience, paying all my bills via a tokenized money market fund, the bank walk is destined to continue IMO even if most...
Easing Capital, Reviving Risk: The Quiet Return of Too Big to Fail
The U.S. regulator’s latest proposal to ease capital adequacy rules for the nation’s largest banks marks a reversal of post‑2008 reforms aimed at curbing systemic risk. Critics argue the move weakens loss‑absorbing buffers, reviving the “too‑big‑to‑fail” dynamic that forces taxpayers...
Banks Fear Profit Flight, Not Deposit Flight, Over Stablecoins
With stablecoins, the banks aren't worried about deposit flight. They're worried about profit flight. These numbers are embarrassing. https://t.co/JZICGB5MWv
Banks Reclassify Private Credit Loans to Slash Capital Requirements
Big banks hack their risk weighted assets by treating loans to private credit funds as securities, reducing the weighting from 100% to as low as 20%. Proposed capital rules look to further decrease this to 15%, encouraging more of this...
Sundaram Home Finance Expands ‘Emerging Business’ Presence in South TN
India’s Sundaram Home Finance announced the opening of two new Emerging Business branches in the historic temple towns of Sankaran Koil and Ambasamudram, extending its footprint in South Tamil Nadu. Over the next year the lender will add five more branches, bringing...
Teen Banking App Urges Kids to Research Dogecoin
Apparently teen banking app Step, an Evolve Bank & Trust partner, also encouraged kids to "do their own research" before considering investing in DOGECOIN https://t.co/HKioRJQbyq
Fixed‑rate 30‑year Loans Stabilize Debt as Wages Climb
30-year fixed loan. Fixed debt cost and rising wages, even with more people with 6% plus mortgage rates vs 3% and lower. https://t.co/fLDxpBRw15
Broker’s Call: HDFC Bank (Outperform)
HDFC Bank, India’s largest private lender, saw its former chairman Atanu Chakraborty resign, citing ethical concerns, while interim chair Keki Mistry was installed with regulator approval. The bank’s shares are trading around ₹781.70 (≈ $9.40) against a BNP Paribas target of ₹1,500 (≈ $18.10)....
Questioning FDIC Expansion; Call for Data-Indexed System
With the floodgates open for industrial bank charters & private equity & crypto owned banks, I’m extremely suspect on why there’s such a drive to dramatically increase FDIC insurance in zero interest yield deposits. A data driven, indexed system is...
Amex's $295 Cash‑Back Card Beats Free Alternatives
Amex Launches A 2% Cash Back Business Card — Charging $295 For What You Can Get Free - View from the Wing https://t.co/QPkU0Fb3qH
Triple-A Integrates with Circle Payments Network
Triple‑A, a licensed global financial institution, announced its integration with Circle Payments Network (CPN), a stablecoin‑based settlement platform operated by Circle Technology Services. As a Beneficiary Financial Institution, Triple‑A will enable USDC‑to‑local‑currency payouts across major cross‑border corridors, covering remittances, payroll,...
UBS Secures U.S. Banking License to Offer Full‑Service Checking Accounts
UBS announced it has received a U.S. banking license, clearing the way to offer full‑service checking accounts to American consumers. The move positions the Swiss wealth manager to compete directly with established U.S. banks such as JPMorgan and Morgan Stanley.
Sri Lanka Waives Fees on Low‑Value QR Payments to Spur Digital Adoption
Sri Lanka's central bank approved a fee waiver for low‑value QR code payments, eliminating transaction charges to encourage mobile payments. The move targets small merchants and consumers, aiming to deepen digital finance in a country still recovering from a prolonged...
Join the 5% Who Truly Master Small Business Deals
The 5% who know what they’re doing- So says this SBA lender. How can you get into their ranks? https://t.co/CswqhSpjGO #SmallBusiness & Deal Making #SMB https://t.co/hg5fTEhEoj