Waters calls for halt to Facebook's crypto plans

House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.
Source: American Banker

Facebook thinks it can displace banks. Good luck with that.

Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked.
Source: American Banker

Latest credit union deal to buy bank adds fuel to simmering policy fight

A Wisconsin credit union’s agreement to acquire a small Chicago bank, the eighth credit union-bank deal this year, led bankers to once again call for policymakers to slow the trend. A credit union trade group complained that banks are trying to stifle competition.
Source: American Banker

HSBC launches digital mortgage platform with help from Roostify

One of the world’s largest banks is about to join the digital mortgage revolution, as HSBC Bank USA, the U.S. arm of HSBC Group, announced that it is partnering with Roostify to launch a digital mortgage platform. The move to go digital is part of an expansion plan for HSBC in the U.S.
Source: HousingWire Magazine

The NRP Group appoints new VP of development

The NRP Group, a builder and manager of multifamily housing, recently appointed David Brown as a regional vice president of development. In this new role, Brown will focus on building the company’s pipeline in the Dallas-Fort Worth metroplex.
Source: HousingWire Magazine

SEC, FBI reportedly investigating Live Well Financial collapse

Trouble continues to brew for Live Well Financial, the forward and reverse mortgage lender that unexpectedly went bust last month, as court documents reveal that authorities are looking into the lender. According to documents filed by Live Well’s creditors, the SEC, the U.S. Attorney’s Office in the Southern District of New York, and the FBI’s Bank Fraud Division have all been poking around for information on Live Well’s dealings.
Source: HousingWire Magazine

Congress dangles tax credits to boost supply of affordable housing

The bipartisan proposal aims to renew banks’ interest in low-income housing tax credits and bring more lower-priced homes to markets that badly need them.
Source: American Banker

One banker's advice for product development: Let customers pitch in

There’s a long list of reasons traditional lenders haven’t kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.
Source: American Banker

Radian rebrands title insurer EnTitle Direct; launches Radian Title Insurance

When Radian Group acquired EnTitle Direct Group, a title insurance and settlement services company that specializes in selling title insurance directly to consumers, last year, the company said that Entitle would continue operating under its existing name. Since then, Radian launched a company-wide rebranding effort, and now, EnTitle is being rebranded to Radian Title Insurance.
Source: HousingWire Magazine

Creditors try to force Live Well Financial into bankruptcy

In May, Live Well Financial abruptly shuttered operations, saying it would no longer be funding forward or reverse mortgage loans. Now, three of its creditors are taking measures to get their investments back, filing a court petition seeking to force Live Well into Chapter 7 bankruptcy and hurling allegations of mismanagement at the defunct mortgage lender.
Source: HousingWire Magazine