Consumer Finance

David Nelms, chief executive of Discover Financial Services (Image: Bloomberg News)

Q&A: Discover's Nelms Calls Prepaid "Sketchy," Wouldn't Recruit at Google

In a wide-ranging interview, Discover CEO David Nelms expressed reservations about the prepaid industry, vowed to defend Discover's cash-back rewards program at all costs, and said he doesn't plan to go recruiting in Silicon Valley anytime soon.

Mergers & Acquisitions

Risk Management

Breaking News

Profits Fall at Most Home Loan Banks05:34PM ET

JPMorgan, Citigroup, B of A Sued Over Mortgage-Backed Securities12:29PM ET

Chase to Add Up to 30 Branches in Northern Calif.12:04PM ET

Taxpayers Won't Subsidize Mortgage Settlement: Administration11:53AM ET

People's United to Close 15 Branches10:16AM ET

Going for the Gold: Banks Earn Awards for Online Efforts

Consulting firm Corporate Insight recently rolled out the proverbial red carpet for its tenth annual Bank Monitor Awards, which honor banks with gold, silver or bronze medals for their online banking features.

Technology

CFPB Chief Richard Cordray (Image: Bloomberg News)

Bankers, Consumer Advocates Debate Overdrafts at CFPB Roundtable

Industry members and consumer advocates gathered on Wednesday to hear officials from the Consumer Financial Protection Bureau outline their concerns about overdraft practices.

Regulation & Reform

Cards/Payments

FHA Knocks Reports on B of A Deal

The acting commissioner of the Federal Housing Administration on Wednesday blasted news reports that claim Bank of America Corp. was essentially bailing out the agency's mortgage insurance fund.

Regulation & Reform

Mortgages

Wells Fargo Could Benefit from Break-Up of Ally Financial

A KBW report says Wells would be the frontrunner for Ally's profitable auto financing division, which could fetch as much as $68 billion in a sale.

Mergers & Acquisitions

NetSpends Sees 4Q Gains, Defends Prepaid from Post-Orman Scrutiny

NetSpend posted solid fourth-quarter results on Thursday, as the prepaid card company bulked up its retail and banking partnerships and weathered increased scrutiny of its industry.

Cards/Payments

Mallory Duncan, the National Retail Federation's senior vice president and general counsel

Potential Interchange Settlement Becomes Hot Topic at Card Conference

Merchant litigation over credit card interchange seems increasingly likely to end in a settlement, leaving observers at a payments conference this week to speculate about its final impact.

Regulation & Reform

Cards/Payments

San Francisco Foreclosure Audit Will Be Fodder for MBS Lawsuits

A new report that found systemic flaws in San Francisco's foreclosure process could be fodder for securities investors to make claims against banks and mortgage servicers, its author says.
Comments (1)

Mortgages

Regulation & Reform

Jaret Seiberg, a senior policy analyst at Guggenheim Partners' Washington Research Group

Capital One Still Not Accepting FHA Loans with Low Credit Scores

Five months after giving verbal assurances to the Federal Reserve and consumer groups that it would accept Federal Housing Administration applications with minimum FICO scores of 580, Capital One is not originating such loans.

Regulation & Reform

Washington

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