Consumer Finance News

Visa's Ex-President Surveys the Hits, and Flops, of Payments Startups

Maria Aspan | May 22

Hans Morris, who left Visa in 2009 and joined private-equity firm General Atlantic, shared his payments investing philosophy with bankers and former colleagues on Monday night.

Mergers & Acquisitions

Technology

Amex Plants Its Digital Wallet in FarmVille

Daniel Wolfe | May 22

Zynga's social games — especially its hit Facebook game FarmVille — are a big deal in digital payments. Its games are the key to the success of Facebook Credits, and they may provide a similar boost to American Express' Serve.

Cards/Payments

Consumer Finance

Wells Fargo Trumpets Soundness of Basic Banking

Jeff Horwitz | May 22

The San Francisco bank has found that, with a few clever tweaks, its retail-focused business model can create sustainable earnings in a lackluster economy, executives said Tuesday.

Risk Management

Retail Delivery

From Trading Bonds to Ripping Bodices

Victoria Finkle | May 22

Former Salomon Brothers trading star Valerie Thompson used investment banking as the backdrop to her steamy new novel.

Mergers & Acquisitions

National/Global

Regions is Finally In a Position to Talk About Growth

Rachel Witkowski | May 22

The Alabama company’s management team used a conference appearance to discuss plans to expand in credit cards and auto lending, while assuring investors that it has turned the corner in the Southeast.

Risk Management

Consumer Finance

LPS: Mortgage Delinquencies on the Rise Again

Evan Nemeroff | May 22

For the first time in nine months, fewer homeowners are making their monthly mortgage payments on time.

Mortgages

Consumer Finance

U.S. Bank’s Overdraft Fee Hike: Unfair, But Not Deceptive

By Jim Wells | May 22

The announcement is surprising as it follows so soon after hefty penalties were assessed against many other banks for their overdraft programs.

Regulation & Reform

National/Global

Infographic: Credit Card Offers

May 21

Cards/Payments

Consumer Finance

Push Continues for Single MBS from Fannie, Freddie

Evan Nemeroff | May 21

To address investor preference for Fannie Mae mortgage-backed securities over Freddie Mac bonds, the GSEs' regulator could create a single instrument that includes loans guaranteed by both

Mortgages

Consumer Finance

Green Dot Adds Dollar Tree Contract, Renews Wal-Mart and PayPal

Daniel Wolfe | May 21

Green Dot Corp. said Monday that it has signed a new multi-year distribution deal with Dollar Tree Inc. and extended its contracts with other partners.

Mergers & Acquisitions

Consumer Finance

Yahoo Selling Stake in Alibaba

Daniel Wolfe | May 21

Yahoo said it is selling up to half its stake in Alibaba Group back to the company.

Consumer Finance

Mergers & Acquisitions

A Delicate Balance: Banks 'Acting Rationally' with Home Backlog

Kate Berry | May 21

Banks are doing what they can to avoid depressing home prices, by focusing on reducing foreclosures rather than flooding the market with their backlog of properties.

Regulation & Reform

Mortgages

GAO Urges CFPB to Improve Internal Financial Controls

Kate Davidson | May 21

A government watchdog is recommending the Consumer Financial Protection Bureau implement several additional internal controls to avoid misappropriation of assets or inaccurate financial statements.

Consumer Finance

Regulation & Reform

Momentum Builds in Private-Label Mortgage Securities Market

Bonnie Sinnock | May 21

Efforts to bring back a private-label residential mortgage-backed securities market have not been quick or wholly successful at this point. But they are persistent, which is why they will ultimately succeed.

Mortgages

Risk Management

PHH Names Former GE Energy Executive President of Mortgage Unit

Paul Muolo | May 21

PHH Corp. Monday morning named former General Electric energy executive David E. Tucker president of its mortgage division.

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