Kevin Wack | May 16
Director Richard Cordray sat silently at a public hearing as a room full of the industry's customers and employees argued that Americans should be allowed to make their own borrowing choices.
Sean Sposito | May 16
At least two startups who demoed at Finovate this week are trying to step in between banks and commercial borrowers in the same way peer to peer lenders already have — with crowdfunding.
Eric Lindeen | May 16
Analyze data to tailor offers and draft sales pitches that customers, particularly those visiting branches, will have a hard time refusing.
May 16
Banks are starving for new revenue sources these days. Some are responding to fierce competition in mainstream lending markets by looking further afield, to financing ventures like improving energy efficiency and the building of manufactured housing. Following are examples of banks that are creating daylight between themselves and their rivals by focusing on unique businesses.
May 16
Wells Fargo must pay customers $203 million for manipulating debit-card transactions to boost overdraft fees, a federal judge in San Francisco ruled, reinstating a 2010 damage award.
Jeff Horwitz, Kevin Wack | May 15
Consumer advocates believe the bounties banks pay to car dealers for steering customers to high-interest loans are abusive. But with a ban likely to spark a political backlash, the Consumer Financial Protection Bureau is instead seeking to prove the markups are discriminatory.
Heather Landy | May 15
Since being forced out of Bank of America in 2011, Krawcheck has been talking a lot about the business case for gender diversity on boards and in top management. Now she's putting her money where her mouth is — and hopes other women will, too.
Kate Berry | May 15
A shareholder at Regions Financial urged shareholders to exercise "caution" in the election of the bank's 14 board members who are up for re-election at the its annual meeting Thursday.
Victoria Finkle | May 15
Senate Majority Leader Harry Reid confirmed Wednesday that the chamber will hold a vote to confirm Richard Cordray as director of the Consumer Financial Protection Bureau sometime next week.
Orson Aguilar and Sasha Werblin | May 15
The banking industry must create sustainable mortgage products that will work for responsible families of modest means. We also need a proactive homeownership policy from the federal government.
Brian Browdie | May 15
Union Bank in San Francisco is expanding its services for homeowners' associations with a deal to buy First Bank Association Bank Services in Vallejo, Calif..
Andy Peters | May 15
Community banks often promise to move quicker on loan applications than big, bureaucratic banks. But online lenders are starting to make small banks look slow by approving small-business loans in a day or less.
Chris Cumming | May 15
PNC Financial Services Group will close 10 branches in its hometown of Pittsburgh as part of a planned $700 million in expense cuts.
Brian Browdie | May 15
Low yields and the short-term impact of a strategy shift weighed on Pacific Mercantile Bancorp in the first quarter.
Clifford Rossi | May 15
A modified version of Ed DeMarco’s securities-based model for housing finance reform could promote an active market for risk-sharing arrangements and further reduce systemic risk by distributing credit risk broadly.
