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Banks and mortgage lenders are in the final stretch of preparing to deliver new TILA-Respa Integrated Disclosures to homebuyers starting Aug. 1. But it's not just the change of forms that is causing alarm bells. Fines could be steep, and legal liability could be even higher, for violators, while necessary technological changes are expensive, they say.
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The structuring law that former U.S. House Speaker Dennis Hastert stands accused of violating highlights how federal prosecutors use the banking system as leverage.
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American Express Co. President Ed Gilligan, who died last week on a return trip from Tokyo, suffered an embolism and subsequent heart attack, according to a person briefed on the matter.
June 1 - PSO content
American Express Co. President Ed Gilligan, who died last week on a return trip from Tokyo, suffered an embolism and subsequent heart attack, according to a person briefed on the matter.
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The Supreme Court issued a ruling Monday that said second mortgage liens cannot be voided in bankruptcy, even when the first lien is underwater.
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JPMorgan Chase is now live on clearXchange, a multi-bank person-to-person transfer network that it helped found in 2011, but the competitive landscape for P2P has changed a lot in the intervening years.
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Though lukewarm about Bitcoin itself, bankers see promise in the technology it runs on, specifically the distributed ledger, for efficiency and security improvements in areas like payments and securities handling.
June 1
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A breakdown of M&A announcements in the financial services industry for the week ended May 30.
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Newly elected Rep. French Hill knows firsthand what it's like to lead a bank through a crisis and implement the sometimes complex rules of Dodd-Frank. That knowledge may prove key as he battles to make regulation simpler for small banks.
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The $3.2 billion-asset company issued the notes, due 2030, on Friday on behalf of its Fidelity Bank subsidiary.
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