Consumer banking
Consumer banking
-
Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.
June 24 -
Access National's four-year-old wealth management subsidiary has grown rapidly and is poised to enter the black. The allure of fee revenues has drawn many community banks into this field amid weak loan growth and tight interest margins.
June 24 -
The Consumer Financial Protection Bureau's new mortgage integrated disclosure rules will now take effect Saturday, Oct. 3, two days later than the previously rescheduled Oct. 1 deadline.
June 24 -
We polled a number of prominent women in banking to ask who they believed should replace Alexander Hamilton as the face of the $10 bill. Here are some of their suggestions.
June 24 -
To address the impact of American Express President Ed Gilligan's death in May, the card network has changed some executive roles and revised its internal corporate structure.
June 24 -
Wells Fargo has ended its sponsorship of the National Basketball Association's Charlotte Hornets.
June 24 -
Bankers and commercial real estate developers are protesting new restrictions on construction lending, arguing they are poised to hurt credit availability and drive loans into risky, unregulated sectors.
June 24 -
Credit Karma in San Francisco has raised $175 million in venture capital to expand its product offerings for consumers' personal finances.
June 24 -
Debt collection litigation is not following any particular pattern this year. The only certainty is that Telephone Consumer Protection Act litigation is having a really bad (or, good, depending on your perspective) year.
June 24 -
A number of class-action lawsuits allege that investment advisers breached fiduciary duty by failing to recommend the least expensive products. But both trust law and investment theory acknowledge that responsible advisers take other factors into consideration.
June 24 -
Northwest Bancorp. in Spokane, Wash., has agreed to buy Fairfield Financial Holdings in Fairfield, Wash., for about $21 million in cash. The deal is expected to close in the fourth quarter.
June 24 -
U.S. v. Adrian Rubin, filed recently in federal court in Pennsylvania, ought to be required reading for anyone studying the history of online payday lending.
June 24 -
CashPoint will forgive more than $2.36 million in consumer loan debt after reaching a settlement Tuesday with the West Virginia Attorney Generals office over alleged illegal collection practices.
June 24 -
Bank of the Orient in San Francisco has received a federal cease-and-desist order because of shortcomings in its compliance with anti-money-laundering rules.
June 23 -
Johnson Financial Group in Racine, Wis., has promoted an executive in its insurance division to chief financial officer.
June 23 -
The case against Adrian Rubin offers a tour through lenders' efforts, dating back to the late 1990s, to avoid state-by-state interest-rate caps.
June 23 -
The second-largest provider of U.S. mortgages through brokers is bringing back a debt type that's almost disappeared since the financial crisis: Interest-only loans.
June 23 - Michigan
Flagstar Bancorp in Troy, Mich., has hired industry veteran Leonard Israel to lead its mortgage division.
June 23 -
The big bank has taken heat from social conservatives about its TV advertisement featuring a same-sex couple adopting a child, but Wells executives say the ad is part of a larger campaign that embraces the many demographic groups in its customer base.
June 23 -
Fannie Mae will no longer charge mortgage lenders to submit loans to its Desktop Underwriter automated underwriting system, a decision that follows a similar move by Freddie Mac earlier this month.
June 23



