The state is asking Google, Comcast and other companies to stop running ads for companies that can't lend legally to its residents. Bankers are also being urged to be on the alert for illegal loans to their customers.
The Consumer Financial Protection Bureau unveiled a new pilot program on Wednesday designed to allow consumers the ability to electronically review and file mortgage closing documents.
Brokers of servicing rights say the overall market remains robust, despite suggestions by Ocwen's William Erbey last week that trades had ground to a halt. Trading of seriously delinquent portfolios has slowed on concerns about increased liability.
The Puerto Rican company has agreed to sell operations in California, Illinois and central Florida and Illinois to local buyers. Popular will streamline its efforts to attract customers in New York and south Florida.
Management is in the process of putting together a new capital plan designed to reduce the Salt Lake City company's risk profile while empowering lenders to do their jobs.
The Atlanta bank's directors have had "robust discussion" about its efficiency ratio and return on assets, and 80% of long-term compensation is tied to performance, says Doug Ivester, SunTrust's lead independent director and a former Coca-Cola CEO.
SunTrust's efficiency decline in the first quarter overshadowed a 16% profit increase, underscoring how shareholders and others are thoroughly scrutinizing bank spending in a low-growth era.
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The Buffalo, N.Y., bank's chief operating officer and chief financial officer discuss how M&T is spending tens of millions of dollars toward upgrading compliance with the Bank Secrecy Act and high-tech retail services. Its deal to buy Hudson City hangs in the balance.
Some banks have built their entire strategy around being ecofriendly while others dabble in this area. Regardless, being environmentally conscious can help bring in new business.
The Consumer Financial Protection Bureau is raising concerns about a caveat in private student loan contracts that allows lenders to automatically put a borrower in default when a co-signer faces certain kinds of hardship.
Regulator Benjamin Lawsky is concerned that Hubzu, a website run by Ocwen's Alitsource affiliate, charges inflated fees "through conflicted business relationships" at the expense of mortgage investors and strapped homeowners.
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Those in the industry say customers aren't asking for specific same-day capabilities. Could it be that they aren't asking because they are finding solutions elsewhere?...
