In|Vest 2018 Direct

An activist investor blasted the appointment of Andrew Cohen, saying he has long served on the Philadelphia bank's board and shares responsibility for its financial troubles.

The Consumer Financial Protection Bureau is advising consumers to transfer money stored on nonbank digital payment apps such as PayPal, Venmo and Cash App to insured banks and credit unions.

Jay Beynon is a financial advisor with Axió Capital Advisors at Stifel Independent Advisors and is based in Hunt Valley, Maryland.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

The bank is training a large language model to help employees and customers find answers to questions, starting in the mortgage department.

Curt Farmer, CEO of the Dallas company, defends its management of a Treasury Department program that provides federal benefits on prepaid cards. He says a recent American Banker investigative article "ignores the fact that Comerica took steps to protect Direct Express users when it became aware that a third-party vendor had not followed program protocols for reviewing customer inquiries."

In May's roundup of American Banker's favorite stories: Washington state plans to provide mortgage assistance to help address historical discrimination, an insider look at how Comerica is faring with the Treasury's Direct Express program, the fall of First Republic Bank and more.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

Curt Farmer is the chairman, president and CEO of Comerica Inc. and Comerica Bank. Dallas-based Comerica has offices in 17 states and serves 14 of the 15 largest U.S. metropolitan areas as well as Canada and Mexico. Comerica reported total assets of $91.1 billion at March 31, 2023.

The ill-conceived proposed rule would increase costs for a significant majority of credit card customers.