Consumer Finance News

Domino Sugar Refinery (Image: Wikipedia/Beyond My Ken)

Banks Try to Fend Off Affordable-Housing Mandate in New York

A movement to jump-start affordable-housing development is gathering momentum in New York and elsewhere, and bankers are concerned that new mandates would cut into their profits on loans for such projects.

Community Banking

Breaking News

Bill Delaying Flood Insurance Rate Hikes Nears Finish Line07:36PM ET

N.Y. Regulators Offer Online Financial Advice to Students05:16PM ET

Treasury Prepares for HAMP Rate Resets, More Defaults03:58PM ET

Ally Names Brown To Head Dealer Finance Business03:24PM ET

GE Said to Seek $3.5 Billion in IPO of Consumer-Finance Unit01:44PM ET

OneUnited Launches Consumer Friendly Mortgage, Credit Card12:48PM ET

BBVA Compass Teams with Cardtronics to Add 300+ ATMs in Tex.11:10AM ET

Philly Bank Shows Its Tattooed Side in New Ads

East River Bank has started using hipper images in its advertising to reflect — and connect with — its young, urban customer base.

Community Banking

Margaret Pettyjohn, executive vice president of retail banking at American Savings

Hawaiian Banks Brace for Incursions by Tech-Wielding Mainlanders

Three companies control banking in Hawaii, but they acknowledge that their dominant position could be coming to an end as the local economy changes and mainland banks can use online services to more easily compete from a distance.

Technology

Community Banking

Three Hard Facts Retail Bankers Need to Face

Banks of all sizes are struggling to increase the revenues and profits that they can eke out of their retail operations — while trying to elbow their competitors out of the same turf. To do so, bankers need to face some hard truths about their branches, technology and M&A ambitions.

Regulation & Reform

National/Global

CFPB Takes Aim at 'Zombie' Foreclosures

The Consumer Financial Protection Bureau plans to address the growing problem of vacant and abandoned properties that banks and mortgage servicers have walked away from to avoid maintaining the homes.
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Regulation & Reform

Mortgages

Wells Fargo Launches Web Magazine, Seeks 'Deeper' Ties with Customers

The bank's hope is that visitors will be inspired enough by the site's uplifting stories to share the content through email and social media sites such as Facebook and Twitter.
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Retail Delivery

Technology

Bankers Push for Increased SBA Lending Authority

There is optimism that the Small Business Administration will be allowed to approve a larger volume of SBA loans in fiscal year 2015 compared to previous years. Bankers are especially supportive of plans to continue waiving fees for smaller 7(a) loans.

Community Banking

B of A Makes Long-Term Play for Young Customers

With its new checkless checking account, Bank of America is taking a different path than many other large banks that have begun offering prepaid cards.

Technology

National/Global

U.S. Housing Sector Is in Big Trouble

The housing sector is increasingly a drag on consumption and job creation. The fault lies not with the market but with ill-considered regulations and bank capital rules.
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Mortgages

Regulation & Reform