Consumer banking
Consumer banking
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Wells Fargo will pay an $85 million civil penalty for misleading borrowers into taking out costly subprime loans and approving loans they were not eligible to receive, the Federal Reserve Board said Wednesday.
July 20 -
Banks are putting the focus back on simplicity in contactless payments, building payment wristbands, which do not need to be hidden away in wallets or activated through software.
July 20 -
Dodd-Frank missed the mark on the two areas most critical to avoiding a future meltdown. The job of identifying systemic risks was left to an unwieldy committee, and financial regulators remain about as balkanized as the intelligence agencies.
July 20 -
Wells Fargo & Co. has been slapped with a cease and desist order and $85 million fine by the Federal Reserve. It is the largest such action ever by the central bank and relates to subprime mortgage lending.
July 20 -
Steel man Frank Williams Jr. aims to become a winner in the bank consolidation game by capitalizing on Great Atlantic Financial's losses.
July 20 -
Community Trust Bancorp Inc. in Pikeville, Ky., said Wednesday that second-quarter earnings rose 4.9% from a year earlier, to $9 million, on higher net interest and noninterest income.
July 20 -
WASHINGTON — The Treasury Department announced a new round of investments Wednesday as part of a program to encourage community banks to make small business loans.
July 20 -
Victory Bancorp in Limerick, Pa., said Wednesday that it raised $2.6 million in capital. The company sold convertible preferred securities with a 7% coupon.
July 20 -
Banks are still digesting a full plate of mortgage and other economic woes, but that's not stopping them from adding ambitious technology projects to their diet.
July 20 -
Calif. Gov. Jerry Brown signs bill limiting any lien holder from going after borrowers if a short sale does not satisfy the entire mortgage.
July 20 -
The Neighborhood Assistance Corp. of America has filed a lawsuit against the Department of Housing and Urban Development, accusing the agency of "trying to silence and undermine" the homeowner assistance group.
July 20 -
Faced with the reality that they might not be able to sell their homes anytime in the near future, more homeowners are choosing to remodel.
July 20 -
A Florida Bar Association opinion could have costly legal ramifications for banks embroiled in the robosigning controversy.
July 20 -
Renasant Corp. in Tupelo, Miss., said late Tuesday that its second-quarter earnings jumped 51.7% from a year earlier, to $5.8 million, due to a wider net interest margin and a decline in its loan-loss provision.
July 20 -
Like many others in the industry, the New Jersey bank holding company has recently seen its net interest income weighed down heavily by persistently low interest rates.
July 20 -
Virginia Commerce Bancorp Inc. surpassed expectations for the second quarter due to a "substantial decrease" in its loan-loss provision and a sizeable increase in noninterest income.
July 20 -
July 21 marks the 1-year anniversary of the Dodd-Frank Act. This octopus of financial legislation continues to entangle both consumers and lenders and if left as written will continue to harm the housing industry.
July 19 -
John Kanas released a statement on Tuesday re-asserting that BankUnited Inc.'s planned acquisition of Herald National Bank jibes with his noncompete provisions with Capital One Bank.
July 19 -
A new CyberSource/Trust Wave survey says merchants have put PCI on the back burner.
July 19 -
Fulton Financial Corp. in Lancaster, Pa., said Tuesday that its second-quarter earnings rose nearly 15% from the same period last year, to $36. 4 million.
July 19



