James Herbert's bank is thriving by delivering top-notch service and maintaining strict underwriting standards at a time when many banks are struggling to increase revenues and undercutting each other to win loan business.
Because of a regulatory quirk, Lending Club and its competitors depend on banks to issue their loans. The set-up raises questions about the regulatory outlook for the fast-growing marketplace lending sector.
Oil at $50 per barrel will almost definitely create problems for banks in oil-producing regions as well as Wall Street financial institutions that finance the sector. Analysts already forecast the price of crude will fall that low the only other question is how long it might last.
The Federal Housing Administration is facing severe challenges next year as some pressure it to lower premiums to deal with new competition from the government-sponsored enterprises, even while its insurance fund remains weak and it faces added scrutiny from GOP lawmakers.
The CFPB sued Sprint on Wednesday, claiming it allowed illegal charges onto customer's cell phone bills. The case is likely to be a test of whether the agency has the power to oversee telecommunications firms.
Where there's a will, there's a way for Chris Bauer, who guided Anchor through bankruptcy as a means of recapitalizing the once-struggling Wisconsin company. The turnaround was punctuated with the company's October IPO.
The Interfaith Center on Corporate Responsibility says a report scheduled to be released by year's end will go a long way toward restoring the bank's credibility with shareholders following a string of legal skirmishes. The group is also pushing for changes at Bank of America and Wells Fargo.
Marketplace lender Social Finance may pursue a larger initial public offering than expected, CEO Mike Cagney said. Progress in its mortgage business and a new lending app will be pivotal to the company's future, he said.