The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit cards.
The Michigan company, which lost more than $1.4 billion in the aftermath of the financial crisis, is trying to become more of a commercial lender. Its recent agreement to buy a deposit-rich franchise in California could help it get there.
The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures.
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.
It was mostly good news for banks in the Federal Deposit Insurance Corp.'s Quarterly Banking Profile, with higher earnings and net interest margins. But there were concerns as well, including slower loan and deposit growth.
While bank executives are divided on what they view as an optimal outcome for Fannie Mae and Freddie Mac, there is broad agreement that a future without them (or some government-supported equivalent) would mean tighter credit, higher rates and lower volume.
Join Financial Services industry authority and Financial Brand’s Jim Marous and Kofax’s Chris Edgington as they discuss taking futuristic Artificial Intelligence (AI) concepts and apply them to the process of onboarding customers in Banking in a very real and practical way.