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Hancock reports higher profit despite energy exposure, tax reform hit

Thu, 01/18/2018 - 00:51
The Mississippi company reported strong loan growth, even as it reduced exposure to energy-related borrowers. Higher revenue also helped Hancock lower its efficiency ratio.
Categories: FINANCIAL NEWS

FHFA breaks silence on housing finance reform

Thu, 01/18/2018 - 00:04
FHFA Director Mel Watt said Fannie Mae and Freddie Mac should be reincorporated as private entities and the government must provide an explicit guarantee for catastrophic losses in the secondary mortgage market.
Categories: FINANCIAL NEWS

Not so fast: CFPB effort to reopen payday rule faces hurdles

Wed, 01/17/2018 - 23:33
The Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act.
Categories: FINANCIAL NEWS

Reg relief may have to get in line behind other issues: Trump official

Wed, 01/17/2018 - 23:17
Mark Calabria, chief economist to Vice President Mike Pence, said passage of the regulatory relief bill could be delayed as policymakers deal with other items such as budget deadlines and an infrastructure bill.
Categories: FINANCIAL NEWS

Wells Fargo's longtime chief risk officer announces retirement

Wed, 01/17/2018 - 23:02
The San Francisco bank said that Michael Loughlin's departure is unrelated to the sales scandal that has dogged the company for the last 16 months.
Categories: FINANCIAL NEWS

Economy expanding, 2018 outlook positive, Fed says

Wed, 01/17/2018 - 23:02
The Federal Reserve’s beige book economic survey indicates economy expanding as household loan demand declines
Categories: FINANCIAL NEWS

Zelle’s anti-fraud efforts trip up key group: Its users

Wed, 01/17/2018 - 22:46
The P-to-P payments service promises to clear transactions in near-real time, but many consumers have complained that they have been unable access their money or even open accounts. Zelle has acknowledged the delays and says they are a result of its rigorous enrollment process.
Categories: FINANCIAL NEWS

Riverview in Washington prepares for first new CEO in four decades

Wed, 01/17/2018 - 22:31
Kevin Lycklama is set to succeed Patrick Sheaffer, who has led the company since 1976.
Categories: FINANCIAL NEWS

Early returns: 2018's top-performing bank stocks

Wed, 01/17/2018 - 22:14
Which large and midcap bank stocks have the most momentum? These 12 banks started the year off with the biggest bang, as measured by gains in stock price.
Categories: FINANCIAL NEWS

San Diego de novo bank sets opening date

Wed, 01/17/2018 - 21:59
Endeavor Bank, which raised nearly $27 million, will become the second new bank to open in California in the past year when it debuts next week.
Categories: FINANCIAL NEWS

Tax cuts to fuel much-needed tech upgrades at large banks

Wed, 01/17/2018 - 21:26
Executives at U.S. Bancorp and Bank of America plan to use their tax savings to ramp up spending on new technology to stay competitive — but they sought to reassure investors that they would not abandon cost control.
Categories: FINANCIAL NEWS

Liberty Bancorp to buy Lawson Financial in Missouri

Wed, 01/17/2018 - 21:10
Liberty will add a branch in Kansas City, Mo., along with three locations in nearby communities.
Categories: FINANCIAL NEWS

Mulvaney launches public review of entire CFPB

Wed, 01/17/2018 - 20:39
Acting CFPB director Mick Mulvaney issued "a call for evidence" Wednesday seeking comment on all of the consumer agency's functions, including enforcement, supervision, rulemaking, market monitoring and education activities.
Categories: FINANCIAL NEWS

Cryptocurrency a 'very critical issue': Banking panel chair

Wed, 01/17/2018 - 20:23
As senators weigh anti-money-laundering reforms, they reiterated their desire to include cryptocurrencies as part of legislative discussions.
Categories: FINANCIAL NEWS

Rethinking bill pay when there isn’t a bill

Wed, 01/17/2018 - 20:07
Providing the default card in digital subscription services is one way banks can win back bill-pay business, save customers time and help them manage their data.
Categories: FINANCIAL NEWS

HomeStreet in Seattle to face proxy battle from big investor

Wed, 01/17/2018 - 19:20
Blue Lion Capital, which had a recent request for a board seat rejected, plans to nominate multiple people to run for the board at HomeStreet's next annual meeting.
Categories: FINANCIAL NEWS

Assurance of quick close helped Ameris get a skittish seller to say 'yes'

Wed, 01/17/2018 - 19:20
Ameris, which was operating under a regulatory order when it agreed to buy Atlantic Coast, agreed to pay more money if it failed to complete the acquisition by mid-2018.
Categories: FINANCIAL NEWS

BB&T commits $50 million for fintech investment

Wed, 01/17/2018 - 18:02
The move comes at a time when banks are becoming more aggressive in acquiring or investing in financial technology companies.
Categories: FINANCIAL NEWS

Senate panel approves Powell as Fed chair for second time

Wed, 01/17/2018 - 17:15
The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.
Categories: FINANCIAL NEWS

Wider margins, one-time tax gain boost U.S. Bancorp in 4Q

Wed, 01/17/2018 - 15:24
Total loans rose 3% at the Minneapolis bank, but its net interest margin climbed 10 basis points. It also booked a one-time accounting gain of $910 million related to tax reform.
Categories: FINANCIAL NEWS

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