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Gulf Capital, a ‘de novo’ bank, to launch without legacy tech

Bank Innovation

Gulf Capital Bank, Houston’s first new bank to launch since 2009, will open its doors by early next year. It confirmed on Monday that it received conditional approval from the Texas Department of Banking and the Federal Deposit Insurance Corporation.

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Capital One Permanently Exits Mortgage and Home Equity Business

Bank Innovation

No more Capital One mortgages. Capital One first acquired its mortgage division in 2009. The Virginia-based bank announced an abrupt, and permanent, closure of its mortgage and home equity origination business this week, citing that the sector was too competitive for the bank to turn a profit.

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Credit Card Charge-Offs Reach Highest Rate Since 2009

PYMNTS

Moody’s Investors Service reported Thursday (June 8) that credit card charge-offs — debts that are so delinquent that lending institutions have basically given up on collecting them — are at their highest rate since 2009 , possibly due to loosening lending standards. Capital One wasn’t far behind at 5.31 percent, up from 4.84

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The pro-cyclicality of capital ratios and credit supply, a tale of two sizes

BankUnderground

This post investigates whether large and small banks in the UK and US differ in the cyclical patterns of capital positions and credit provision. The reforms aimed to ensure that banks have sufficient capital resources to absorb losses and reduce the cyclical effects of bank capital (and regulation) on the supply of bank credit in stress.

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Uncoventional Ventures’ Lau: Diversity is more than a buzzword in fintech

Bank Innovation

The startup and venture capital ecosystem may profess to be colorblind, but a look at where funding dollars are going presents a different picture. According to recent research, there have been two quarters since 2009 where the proportion of venture dollars going to female founders exceeded 17%.

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New Venture Capital Round For Interior Design Site Houzz Will Put Its Value At About $4 Billion

PYMNTS

Houzz , the popular photo site used by homeowners to plan renovations, is finalizing a new funding venture capital round of $400 million that will value the home décor and interior design startup at about $4 billion. The company was founded in 2009 by CEO Adi Tatarko and her husband, Alon Cohen.

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Golden Gate Capital Considers Merging Eddie Bauer And Pacific Sunwear

PYMNTS

Both retailers are owned by private equity firm Golden Gate Capital, which has not decided whether to merge the two companies and has declined to comment. Golden Gate acquired Eddie Bauer out of bankruptcy protection in 2009 with a cash bid of $286 million.

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