Consumer banking
Citigroup and Wells Fargo are laying off hundreds of mortgage workers, as the boom in home loan refinances starts to taper off. The job cuts are a familiar story for the cyclical mortgage business, but they signal more bad news for the banks that have seen refis as a bright spot amid lackluster sources of revenue.
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The relationship between traditional financial institutions and startups is a recurring theme in BankThink's series, "The Future Model of Banking." While young companies are nimbler and more innovative, banks have the advantages of regulatory protections and incumbency. So while the disruptive newcomers could make banks obsolete, these entrepreneurs may be able to accomplish more by working with banks than they might on their own.
July 23 -
Bank buyers are starting to pay more for assets; valuations soared this month in Prosperitys deal for FVNB and MB Financials deal for Taylor Capital, which could be the sign of increased prices for future bank M&A.
July 22
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The editors of American Banker's BankThink blog discuss an ongoing series, "The Future Model of Banking," in which contributors envision products and services tomorrow's banks can offer that add value and that customers will happily pay for.
July 19 -
The Senate's confirmation of Richard Cordray as head of the Consumer Financial Protection Bureau ends a long period of uncertainty for the new agency and for the banks that it regulates. It also effectively ends efforts by Republicans and the industry to change the structure of the CFPB.
July 17 -
Barclays is in an awkward situation that will ring familiar to bankers in the U.S. The U.K. bank has been terminating relationships with money transmitters, including several that wire funds to Somalia, a ravaged country that relies heavily on remittances from immigrants in the West. The bank says it's uncomfortable with the risk and expense of serving these businesses in light of recent fines levied against big financial institutions for anti-money laundering lapses. But now it's being accused of starting a humanitarian crisis.
July 15 -
Big banks are facing unprecedented pressure from federal and state regulators to rein in their consumer credit card collections practices following revelations of improper behavior.
July 2 -
Frost Bank's Dick Evans discusses his strategy, in a highly competitive lending market, for competing on price without taking on undue risk.
July 1 -
Banks can get beyond the negative perceptions that have dogged the industry the past few years, but they need to lay the proper groundwork first. American Banker Magazine Editor in Chief Heather Landy and Reputation Institute's Anthony Johndrow analyze the results of our fourth annual survey of bank reputations.
June 25 -
The Department of Justice faces a serious challenge to its aggressive pursuit of fair lending cases following a Supreme Court decision to hear a case involving the controversial theory of "disparate impact." American Banker editors discuss the implications of the high-profile case for banks and the rest of the mortgage industry.
June 24
