NEW ORLEANS - (01/02/06) First, there was the issue of whatwould happen when all those loan payments deferred due to HurricaneKatrina all came due on Dec. 1. Now the question is what happenswhen lenders get more than they bargained for in the form of earlypay-offs. Insurance checks have been streaming into Gulf Coastfinancial institutions, and many of those checks will be used topay off loans well before their terms are up. Financialinstitutions in the Gulf Coast states are reporting that in mostcases, they are opting to waive the prepayment penalties built intomost loans. But some consumers have been complaining to regulatorsand other government officials that some financial institutions areinsisting on collecting such penalties for earlypayoffs.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3