The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.
3h ago
THE LATEST
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The Connecticut company recruited Robert Russell from Millington Bank to become its president and CEO.3h ago
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Canadian consumers are changing their banking habits to reduce physical contact with others because of COVID-19, according to a new study by McKinsey & Co.7h ago
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The Federal Reserve's extraordinary effort to keep credit flowing to companies during the COVID-19 pandemic is also shunting money to banks' bottom lines.10h ago
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A Bloomberg News analysis shows that the data for Paycheck Protection Program loans totaling more than $521 billion released on July 6 are riddled with anomalies.10h ago
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Wells is expected to report a loss while other banks report sharp declines in profits; Fed officials wanted easier terms, while Treasury officials preferred a more conservative approach.11h ago
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New president of Promontory Interfinancial Network says recession will cause "hundreds" of nonbank disruptors to fail; lenders face dilemma over offering Main Street loans to noncustomers; PNC Financial expands, diversifies executive leadership team; and more from this week’s most-read stories.July 11
Multimedia
A sneak peek at a podcast launching on American Banker in our Leaders forum. Michal Katz, head of investment and corporate banking in the Americas at Mizuho, discusses leadership with Gemma Postlethwaite, the CEO of American Banker's parent company, Arizent.
July 6
As PPP enters forgiveness phase, some banks see outsourcing as best move; after the Fed’s stress tests, Wells Fargo to cut dividend while other big banks boost capital buffer; Supreme Court strikes down CFPB leadership structure; and more from this week’s most-read stories.
July 2
The 2008 financial crisis transformed banking regulation. But how have those changes held up in the current recession, and what might be coming next?
July 1
Wei Ke, partner at Simon-Kucher & Partners, shares research and analysis from a recent consumer survey on branch versus digital banking behaviors after the coronavirus lockdowns are over.
July 1
Bank consolidation has been stagnant since the pandemic hit, and the outlook for the rest of the year is bleak.
June 29
Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention.
June 26
A sneak peek of a new podcast launching on American Banker later this summer as part of our Leaders Forum, where senior voices and innovators will share their leadership experiences and perspectives on business-critical topics. Arizent CEO Gemma Postlethwaite talks with Ernie Johannson, BMO’s Group Head of North American Personal and Business Banking, about leadership during the Covid-19 crisis, organizational agility and lessons in discernment.
June 24
A global health crisis. Economic free fall. A reckoning over racism and inequality. We will not be the same after this — and neither will banking.
June 23
Rather than funnel mortgage and rent payments through consumers, the federal government should instead deal directly with landlords, utilities and banks, suggests Howard Newman, managing partner of Pine Brook Partners.
June 23
JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's most-read stories.
June 19
Opinion
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President and CEOSound FinancialJuly 9
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ChairmanCommunity Financial Services Association of AmericaJuly 8
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FounderCreative Investment ResearchJuly 7
Research
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An examination of potential sources of upheaval for the financial industry and ideas on how to adapt.January 9
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Tariffs and other macro factors have introduced new uncertainty into international trade.November 29
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Recent years have seen a transformation in credit-card customer acquisition. This report explores how consumers are interacting with the new expanse of marketing and acquisition channels and examines where opportunities and threats to issuers may lie.October 23
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Digital IDThe idea of a common digital identity for consumers has become more compelling amid the digitalization of the world's economy. Many bank and credit union executives consider it a natural fit, one the industry should be prepared to lead on.August 28
