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Wells Fargo ends fight with a whistleblower in fake-accounts scandal

16 hours 45 min ago
Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.
Categories: FINANCIAL NEWS

5 ways a government shutdown will affect mortgage lending

Sat, 01/20/2018 - 04:01
Here's a look at what will happen at five federal agencies that support the mortgage industry if the government shuts down.
Categories: FINANCIAL NEWS

GSE reform heats up, Zelle's flaw and CFPB's struggles: Top stories of the week

Sat, 01/20/2018 - 00:04
An exclusive look at the Senate's tightly held housing finance plan drew the most interest from readers this week, while TD's foray into AI and the roller coaster at CFPB also dominated attention.
Categories: FINANCIAL NEWS

Glitch, tweet, repeat: Modern banking’s rage cycle

Fri, 01/19/2018 - 23:17
Wells Fargo joins the list of banks recently hobbled by tech outages. Is there a better response than ‘Sorry for the inconvenience’?
Categories: FINANCIAL NEWS

Regionals step on gas in retail loans as commercial lending sputters

Fri, 01/19/2018 - 23:01
Citizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending.
Categories: FINANCIAL NEWS

CFPB's Mulvaney to Warren: Breaches justified data-collection halt

Fri, 01/19/2018 - 22:14
Acting Consumer Financial Protection Bureau Director Mick Mulvaney has cited hundreds of confirmed and suspected data breaches as justification for his halting the bureau's data collection activities last month.
Categories: FINANCIAL NEWS

KleinBank to sell three branches to Minnesota credit union

Fri, 01/19/2018 - 21:43
Wings Financial Credit Union will also gain about $40 million in deposits and $10 million in loans.
Categories: FINANCIAL NEWS

Dime finds it hard to, well, turn on a dime scaling back CRE

Fri, 01/19/2018 - 21:25
The New York multifamily lender is making steady progress in a multiyear effort to reduce its dependency on commercial real estate.
Categories: FINANCIAL NEWS

Fed’s Quarles to seek more ‘tailoring’ of large-bank rules

Fri, 01/19/2018 - 21:10
Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday gave the clearest indication yet of the central bank's intention to recalibrate the regulatory framework for the nation’s largest banks.
Categories: FINANCIAL NEWS

Mulvaney: No plans to ‘blow up’ CFPB

Fri, 01/19/2018 - 20:04
"I've told people from the day I walked in there, I wasn't there to burn the place down or blow it up," the consumer bureau's acting director said at a White House briefing.
Categories: FINANCIAL NEWS

House votes to exempt more firms from HMDA rule

Fri, 01/19/2018 - 19:34
A bill passed by the House would raise the threshold that allows smaller banks and credit unions to avoid expanded Home Mortgage Disclosure Act requirements imposed by a 2015 rule.
Categories: FINANCIAL NEWS

Crypto crackdown? That's a lot of hype, too

Fri, 01/19/2018 - 18:47
Fears about regulators coming down on digital currency trading caused an epic crash in the market this week. But reining in this evolving asset class won't be easy.
Categories: FINANCIAL NEWS

Synchrony's tighter loan standards yielding mixed results

Fri, 01/19/2018 - 18:47
The Stamford, Conn.-based credit card issuer saw improvement in late payments by its customers, but the pace of loan growth also slowed during the fourth quarter.
Categories: FINANCIAL NEWS

SunTrust brings back former tech executive to serve as new CIO

Fri, 01/19/2018 - 17:45
Scott Case will rejoin SunTrust after having left the bank in October to become chief information officer at a health care information management company. He will replace Anil Cheriyan, who is retiring.
Categories: FINANCIAL NEWS

BankFirst is Miss. raises $16M through private placement

Fri, 01/19/2018 - 16:41
The company sold common stock to employees, existing shareholders and new investors.
Categories: FINANCIAL NEWS

Retail loans, tax adjustments lift Citizens’ 4Q profits

Fri, 01/19/2018 - 15:53
The Providence, R.I., company’s results included a $317 million tax benefit as well as growth in mortgages, education and unsecured retail loans.
Categories: FINANCIAL NEWS

Mulvaney, handpicked team in tow, ready to reshape CFPB

Fri, 01/19/2018 - 15:37
The agency’s acting director has recruited several conservative staff members who will likely prove instrumental in charting its future.
Categories: FINANCIAL NEWS

Fee income, rising rates boost Regions 4Q profit

Fri, 01/19/2018 - 15:05
Regions also saw significant increases in its point-of-sale consumer lending, even though overall loans were slightly down from 2016.
Categories: FINANCIAL NEWS

SunTrust records $172M benefit from tax reform

Fri, 01/19/2018 - 14:49
The new tax law helped boost fourth-quarter results at SunTrust Banks in Atlanta, while the recent rate hikes led to gains in spread income.
Categories: FINANCIAL NEWS

Acquisition drives strong loan, revenue growth at First Horizon

Fri, 01/19/2018 - 14:33
The deal Capital Bank Financial helped boost revenue by 17% in the fourth quarter, but one-time charges related to recent tax cuts dragged down theMemphis company's profits.
Categories: FINANCIAL NEWS

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