Amalgamated chief's goal after IPO: Create a nationwide bank

Keith Mestrich, who runs the union-founded bank, plans to use a more liquid stock to pursue acquisitions in cities such as Boston, Seattle and Los Angeles.

Stats on consumer debt collection aren't as rosy as they look

The number of consumers being pursued by debt-collection agencies fell dramatically in the past year, but it's as much technicality as achievement, and bankers need to keep that in mind when reviewing the credit scores of millions of Americans.

Consumer lending Laura Alix 1h ago
Startup's mission: Help cash-strapped students finish college

It bothered Jeannie Tarkenton, founder of Funding University, that too many kids from lower-income families didn't graduate because they lacked just a few thousand dollars and couldn't get a loan.

Online banking Penny Crosman August 13
Bankshot Wells Fargo was hit with more scandal. But does anyone care?

The bank continues to battle a series of negative headlines such as erroneous foreclosures, but public and investor reaction has been muted.

Penalties and fines Victoria Finkle August 13

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The Latest

How next FHFA chief can reform Fannie, Freddie without Congress' help

The regulator of the government-sponsored enterprises has substantial authority to intervene as a legislative stalemate continues.

GSE reform Hannah Lang 1h ago

GSE reform Hannah Lang 1h ago
Atlantic Bay Mortgage, Virginia Community Bank call off proposed merger

The companies had been unable to secure regulatory approval for the deal, which was announced a year ago.

Community banking Bonnie Sinnock 2h ago

Community banking Bonnie Sinnock 2h ago
Article In the Wake of Equifax, a Call to Share More Data not Less

When Equifax disclosed its enormous data breach that exposed the personal information of some 143 million people, the reaction of many consumers and corporate executives was similar and familiar: our data is at risk at all times and the less access we give to others the better. But that's precisely the wrong lesson.

Banking October 18, 2017

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Banking October 18, 2017
Synchrony, Lowe's sign multiyear extension of credit card deal

The card issuer Synchrony will continue to manage three cards for the national hardware chain. The timing is good as Synchrony recently lost a deal issuing cards for Walmart.

Credit cards Frank Gargano 3h ago

Credit cards Frank Gargano 3h ago
Manafort turned to Kushner in bid to get banker a Trump job

Paul Manafort turned to Jared Kushner for help in an attempt to secure a Trump administration job for a Chicago banker at the center of Manafort’s fraud trial.

Finance and investment-related court cases 4h ago

Finance and investment-related court cases 4h ago
BankThink Banks should do more to prevent renters from being displaced

Kevin Stein
Deputy Director California Reinvestment Coalition

Lending to problematic or serial evictors can cause people to be pushed out of their homes in the name of profits. Banks must adopt standards against this practice.

Affordable housing 5h ago

Affordable housing 5h ago
Morning Scan Citi shuffles consumer unit; fintechs embrace subprime cards

Anand Selva, a longtime Asia hand, will head up U.S. consumer banking; several startups are backed by traditional card issuer veterans, such as former Citi CEO Vikram Pandit.

Morning scan George Yacik 8h ago

Morning scan George Yacik 8h ago

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Multimedia

Five C&I credit analysis tips from a Main Street banker

Good credit analysts are in short supply, says David Nicholson, a senior VP of commercial lending at a community bank. But fair warning for job seekers: Only dogged questioners who can think critically need apply, because vetting business borrowers is as much art as science.

BofA backlash, Facebook’s bad deal and selling a century-old bank: Top stories of the week

The Trump administration's stance on immigration is causing headaches for some banks, how a tiny black-owned bank is turning to fintech to turn itself around; why banks are rejecting Facebook's offer to share data and more from this week's most-read stories.

'What blue wave?': Comments of the week

Readers opine on prospects for the midterm elections, respond to Facebook's forays into collecting bank data, weigh in on new overdraft legislation and more.

Podcast Top LendingClub exec details plan forward

The online lender’s president, Steve Allocca, shares how the company weathered scandal and hints at future plans to grow its product set.

BankThink

Banks should do more to prevent renters from being displaced

Kevin Stein
Deputy Director
California Reinvestment Coalition

Lending to problematic or serial evictors can cause people to be pushed out of their homes in the name of profits. Banks must adopt standards against this practice.

Affordable housing 5h ago
Wells Fargo was hit with more scandal. But does anyone care?

Victoria Finkle
Editor
American Banker

The bank continues to battle a series of negative headlines such as erroneous foreclosures, but public and investor reaction has been muted.

Penalties and fines August 13
Motivate employees by challenging them to solve unbanked problem

Andrew Waxman
Associate Partner
IBM Global Business Services

Helping the underserved, especially abroad, can help banks retain top workers and boost profits.

Underbanked August 13
WSFS broke the mold with its latest deal. Other banks should take note

Hilary Burns

Merger announcements typically follow a tried-and-true formula of cutting costs to boost profit. WSFS, however, plans to reinvest $32 million in new tech initiatives after buying Beneficial.

Community banking August 10

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Research

Research Report Banks and Credit Bureaus: Where Things Stand

Most lenders are staying the credit bureau course in underwriting but some are mulling changes, particularly when it comes to marketing.

Credit scores June 1
Research Report Open APIs: Use Cases Grow, Tension Lingers

The widely held belief that application programming interfaces are the key to banking’s future rests on the many ways early adopters are experimenting with the technology. But security and privacy concerns are still leading many in the industry to hold back.

APIs May 30
Research Report Regulation and Policy: What to Watch for in 2018

Inside, a look at the state of policy play on a range of key industry issues that may impact 2018 midterm elections.

Regulatory actions and programs December 29, 2017
Research Report FinTech2018: AI, Blockchain, and the Cloud

Technology spending at banks is set to climb again in 2018 with budget growth at small banks exceeding that of large banks.

Fintech December 22, 2017