Cross River Intelligence Archives

With over 2,000 companies considered, PeerIQ is proud to be recognized as one of the 250 most promising, private fintech companies from around the world.  CB Insights named PeerIQ to the prestigious Fintech 250, a select group of emerging private companies working on groundbreaking financial technology. CB Insights CEO and co-founder, Anand Sanwal, revealed the Fintech 250 compan ...

President Trump nominated James Clinger, former Chief Counsel of the House Financial Services committee, to chair the FDIC. Clinger previously worked as a staffer for Jeb Hensarling (R-TX) who authored the Financial Choice Act. Clinger also helped author the Gramm-Leach-Blilely Act which overturned the Depression-era law separating consumer and investment banking. The Trump Administration has ...

In a widely expected move, the FOMC raised Fed Funds target rate 25 bps to a target range of 100 to 125 bps. The US Treasury released a report on banking and regulatory form, which if implemented, would lead to the revitalization of the private-label MBS market. The past week was a seminal one for SoFi, Lending Club, and Upstart. SoFi filed for an ILC bank charter in the state of Utah. The a ...

President Trump will nominate Joseph Otting as the head of the Office of the Comptroller of the Currency, responsible for overseeing federal banks. Otting served as CEO of OneWest Bank where current Treasury Secretary, Steve Mnuchin, previously served as Chairman. If confirmed by the Senate, Otting will play a role in the Trump administration's efforts to ease rules written under the Dodd-Frank Ac ...

The US economy generated a seasonally adjusted 138 K jobs last month (vs. expectation of 185K) bringing the jobless rate to 4.2% and another step closer to full employment. As inflation risks emerge, the Fed is widely expected to increase rates another 25 bps at the upcoming FOMC meeting on June 14th. On the regulatory front, the US House will vote on a bill sponsored by Jeb Hensarling (R-TX) t ...