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After six years in the regulatory penalty box, Ambank maps out future

Fri, 01/12/2018 - 19:54
The Iowa company was sidelined by a Fed order for 2,155 days. Finally free, Ambank is open to making an acquisition and offering its mortgage origination services to other institutions.
Categories: FINANCIAL NEWS

Doubling down on digital personalization, TD snaps up AI company

Fri, 01/12/2018 - 19:23
Banks are increasingly investing in technology that will enable them to deliver highly personal and customized communications with customers.
Categories: FINANCIAL NEWS

Ridgewood Savings in N.Y. taps insider as next CEO

Fri, 01/12/2018 - 18:20
Leonard Stekol, Ridgewood's president, succeeded Peter Boger, who ran the bank for 18 years.
Categories: FINANCIAL NEWS

Mnuchin: Bitcoin firms subject to anti-laundering rules

Fri, 01/12/2018 - 17:17
Treasury Secretary Steven Mnuchin on Friday warned traders and firms offering services related to cryptocurrencies like bitcoin that anti-money-laundering and know-your-customer rules apply to them — and regulators are watching closely.
Categories: FINANCIAL NEWS

Preserve money market rules to avoid rerun of crisis

Fri, 01/12/2018 - 15:42
The Securities and Exchange Commission should hold steady against calls to roll back post-crisis reforms to money market mutual funds.
Categories: FINANCIAL NEWS

Wells Fargo's earnings take yet another big hit from litigation

Fri, 01/12/2018 - 15:10
Wells Fargo had another surprise for investors in the form of its biggest legal charge yet, showing the lender is not yet past its consumer banking scandals.
Categories: FINANCIAL NEWS

New tax law adds $1B to PNC's 4Q profit

Fri, 01/12/2018 - 15:10
The Pittsburgh company got the tax-related boost from an increase in the valuation of its deferred tax liabilities. It was partly offset by several charges.
Categories: FINANCIAL NEWS

Earnings season begins; MoneyGram to test Ripple’s XRP

Fri, 01/12/2018 - 14:54
JPMorgan Chase, Wells Fargo are the first to report; payments company will run pilot to see if digital currency speeds transactions and lowers costs.
Categories: FINANCIAL NEWS

JPMorgan $143M loan loss is said to be tied to Steinhoff

Fri, 01/12/2018 - 13:51
JPMorgan Chase & Co.’s equities business took a big hit from Steinhoff International Holdings NV last quarter.
Categories: FINANCIAL NEWS

'This guy lives in Fantasyland’: Comments of the week

Fri, 01/12/2018 - 04:02
Readers react to the Federal Housing Finance Agency considering changing its credit scoring policy, slam the possibility of enforcing mandatory penalties for data breaches at credit reporting agencies, weigh the possible nomination of a credit union regulator to the CFPB, and more.
Categories: FINANCIAL NEWS

Tech fixes will bring more business to FHA, top HUD official says

Thu, 01/11/2018 - 23:34
Adolfo Marzol, an official at the Department of Housing and Urban Development, is optimistic that technological improvements and other changes can help draw Federal Housing Administration lenders back to the fold.
Categories: FINANCIAL NEWS

The nosiest banker ever, Wall Street’s #MeToo moment and CFPB drama galore

Thu, 01/11/2018 - 23:03
Sundie Seefried is high on pot banking. Hollywood is not so sweet on the former SBA head's bid for Weinstein Co. Another woman takes on Mick Mulvaney in court. And what's shushing women on Wall Street with stories to tell? Arbitration, for one thing.
Categories: FINANCIAL NEWS

HomeStreet in Seattle rejects shareholder request for board seat

Thu, 01/11/2018 - 22:47
Blue Lion Capital has complained about the company's reliance on mortgages and bank acquisitions.
Categories: FINANCIAL NEWS

Data security takes center stage as state legislatures convene

Thu, 01/11/2018 - 22:32
If Congress doesn’t take the lead on better protecting consumers from data breaches, states are more than ready to offer their own fixes. Bankers will also be keeping close tabs on bills related to marijuana, PACE loans and elder financial abuse.
Categories: FINANCIAL NEWS

More questions for Wells Fargo after exam rating leak

Thu, 01/11/2018 - 22:16
The disclosure of a key part of Wells Fargo's exam rating is fueling speculation that further regulatory action may soon be taken against the megabank and raising renewed questions about its regulator's oversight.
Categories: FINANCIAL NEWS

MoneyGram pilot is important real-world test for Ripple's payments plan

Thu, 01/11/2018 - 21:28
The San Francisco startup behind the cryptocurrency XRP claims it can send money around the world faster, cheaper and with greater transparency.
Categories: FINANCIAL NEWS

Breweries, food trucks and DJs: Creative ways to appeal to millennial customers

Thu, 01/11/2018 - 19:40
NewDominion Bank and M&F Bank are among the institutions willing to leave the industry's comfort zone to reach younger prospects.
Categories: FINANCIAL NEWS

Be prepared, Indianapolis bankers: B of A has landed

Thu, 01/11/2018 - 19:24
Bank of America has opened a flagship branch downtown and plans several so-called robo branches across the city. It has used a similar strategy to enter new markets in the past year.
Categories: FINANCIAL NEWS

Despite loss, legal battle against CFPB's Mulvaney isn't over yet

Thu, 01/11/2018 - 18:36
After a significant setback this week in the legal bid to unseat Mick Mulvaney as acting director of the Consumer Financial Protection Bureau, consumer groups are pinning their hopes on a second case they hope will provide a different result.
Categories: FINANCIAL NEWS

Merrill Lynch partners with fintech on texting service

Thu, 01/11/2018 - 18:36
Banks have strictly controlled adviser-client text communications due to regulatory concerns.
Categories: FINANCIAL NEWS

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