Mortgage lenders again lost money on each loan originated in the first quarter of the year, after recording record losses in the last quarter of 2022, according to data from the Mortgage Bankers Association (MBA).
The collapse of Silicon Valley Bank (SVB) was not the end of venture debt, but it was likely the end of companies raising venture debt with the same ease that many were accustomed to. TechCrunch+ recently spoke to five different VCs about the state of venture debt in the wake of SVB and then First Republic Bank’s collapse, and all of them said they don’t think the recent bank failures signaled the end of venture debt. Rather, they expect the process of raising this kind of debt will start to look a lot different.
Days after OpenAI CEO Sam Altman testified in front of Congress and proposed creating a new federal agency to regulate artificial intelligence, a US senator has introduced a bill to do just that.
As of July 1, 2023, Maryland will no longer require consumer finance company licensees to license their branch locations. Maryland House Bill 686 was signed into law by Governor Wes Moore on May 8, 2023 to effectuate the regulatory change.
The CFPB held interviews and focus groups with low- and moderate-income consumers during the summer of 2022 to better understand their experiences with overdraft programs. For this engagement, 36 participants—14 in individual interviews and 22 across four focus groups—were asked about their use of deposit accounts and debit cards, their understanding of overdraft, specific incidents they experienced resulting in being charged an overdraft or NSF fee, their perceptions of ways to avoid such fees, and other related topics.
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