RBS pays $8.9m to wash away IT shortfall

Royal Bank of Scotland was hit with a $8.9m fine by British regulators due to IT system glitches that exposed the bank to possible financial transactions by terrorists. The Financial Services Authority reports the bank didn’t have adequate controls in place at RBS, NatWest, Ulster Bank and Coutts units.

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Guaranteed Rate closes Stearns wholesale channel

Chicago-based Guaranteed Rate will discontinue its third-party wholesale channel, Stearns Wholesale Lending, just one year after it acquired the multichannel lender.

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3d rendering of a row of luxury townhouses along a street

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