Consumer banking
Banks have shied away from private student loans, both because of the need for scale in this business and intense scrutiny from regulators including the Consumer Financial Protection Bureau. But these loans are performing much better than federally guaranteed student loans, says Dan Feshbach, Chief Executive of data company MeasureOne.
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Former Consumer Financial Protection Bureau boss Raj Date is lining up a seasoned team of banking executives to try to revive the subprime credit card market. For the banks his firm is seeking to partner with, the question is whether the potential profits justify the risks. American Banker staffers discuss.
February 10 -
The Federal Housing Administration's long-awaited decision to start accepting electronic signatures on mortgage documents will cut down on costs and streamline operations for banks and other mortgage lenders. But the industry still faces several hurdles before it can reap the benefits of this technology upgrade.
January 31
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Microsoft is scheduled to stop supporting Windows XP, the operating system inside most ATMs, on April 8. Diebold chief executive Andy Mattes weighs in on the impact to the industry.
January 30 -
Community banking representatives met with hostility a recommendation that the U.S. Postal Service consider offering financial services. The proposal raises questions about whether the Obama administration is trying to circumvent Congress and replace payday lenders with a government entity. American Banker staffers discuss.
January 28 -
Wells Fargo, U.S. Bank, Regions and Fifth Third have all dropped out of the deposit advance business after federal regulators imposed new restrictions on the products, which are similar to payday loans. American Banker editors discuss the implications for banks, for the nonbank payday lenders who are facing regulation from other entities, and from the customers who may look elsewhere for alternative sources of short-term credit.
January 22 -
JPMorgan Chase and Wells Fargo kicked off bank earnings season with decidedly mixed results. Both were solidly profitable, but their methods for remaining so suggest that smaller rivals may have a hard time following suit. American Banker editors discuss the results and what they say about the industry's prospects for the year ahead.
January 14 -
The Consumer Financial Protection Bureau is expected to draft rules governing payday lending this year. But the conventional wisdom that will likely guide it is based on false perceptions about the working poor and the best way to serve them. So argues Lisa Servon, a professor at The New School.
January 13 -
The Consumer Financial Protection Bureau will soon begin looking beyond the rollout of new mortgage regulations this month to other markets. American Banker's Rachel Witkowski, who covers the CFPB, offers insights into where the agency is headed and when.
January 10 -
The Dodd-Frank Act and other financial regulations enacted in the wake of the financial crisis have made banking a "worse place" by adding unwieldy and unnecessary restrictions on big banks, says Dick Bove. The longtime bank analyst also points a finger at regulators for failing to adequately enforce existing regulations in the lead-up to the crisis, a point he discusses at length, while defending big banks, in a new book.
January 9
