Interested Rates and Big Tech in Banking

In this week’s PeerIQ Industry Update they cover the thinking on interest rates and what really is the optimal rate policy; mortgage refinancing is hot right now with demand increasing by 13 percent from a week ago and 188 percent in the last year; the news of Google’s checking account partnership dominated the headlines in the last week but there was some of big news in the market; Facebook Pay launched across their platforms and Zelle, Square Cash and PayPal all announced digital wallets; Goldman said they have a ready made robo advisor product and lawmakers have payday loans back in their sights with a new piece of legislation drafted that would cap interest rates at 36 percent. Source