Mortgage lenders slammed proposed amendments to the real estate settlement process aimed at lowering and consolidating settlement costs after a congressional hearing on the proposals last week. The Independent Community Bankers of America called the proposals to amend the Real Estate Settlement Procedures Act, or RESPA, akin to making mortgage lenders "HMOs," and Realtors also were opposed. The amendments, proposed by HUD would allow lenders to consolidate the myriad charges associated with a mortgage into a single fee and provide borrowers a more definite estimate of costs before closing. The rule would require lenders to offer a single price for processing the mortgage, including appraisals and title insurance, or to stick more closely to initial estimates.
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While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
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The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
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GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
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As banks consider their strategies, other big names are also considering a role for digital assets.
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The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
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Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
June 30