Consumer banking
Consumer banking
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Student loan debt remains a pressing concern in the U.S. because of high balances and high rates of delinquencies and defaults. The issues have been discussed in recent blog posts by the Federal Reserve Bank of New Yorks Liberty Street Economics team.
February 23 -
There's nothing wrong with big banks gaining market share because they offer the products and services that customers want. But there's a problem when big banks can beat off their smaller rivals with a club fashioned by legislators and regulators.
February 23 -
New Residential Investment Corp., a U.S. real estate investment trust, agreed to buy Home Loan Servicing Solutions Ltd. for about $1.3 billion.
February 23 -
One way to help the global economy prosper is to think of the poor and the middle class as untapped assets for entrepreneurship and job creation. That was the premise underlying a panel discussion at a recent conference on financial inclusion.The panel included, from left, Clare Woodcraft-Scott, the chief executive of the Emirates Foundation; Monica Mehta, managing principal of Seventh Capital in Houston, a family office that invests in lower-market consumer businesses, and author of "The Entrepreneurial Instinct: How Everyone Has the Innate Ability to Start a Successful Small Business," and Aja Brown, the mayor of Compton, Calif. Their discussion took place in Atlanta at the 2015 Hope Global Forum, presented by Operation Hope.
February 23 -
Aja Brown, the mayor of Compton, Calif., says introducing young people to what's possible, so that they don't feel limited by their current circumstances, is a way of continuing the mission that Martin Luther King Jr. started. Brown was a featured speaker at the recent Hope Global Forum, which focused on the theme of financial inclusion. She was there to discuss several initiatives underway in Compton, including one with the University of Southern California to offer industry-specific employment training.
February 23 -
Banks need outside help to deliver credit to the underserved, says Tim Wennes, the West Coast president of MUFG Union Bank, who shares advice on what kind of partners to seek and how to vet them.
February 23 -
The credit card delinquency rate remained steady in Q4 compared with a year earlier, while total outstanding credit card balance increased 5%. The increase indicates record growth, the highest yearly jump seen since 2008, according to a TransUnion report.
February 23 -
Rallying bank employees to participate in outreach projects takes hard work in the beginning, but their involvement is essential to building a rapport with the community, OneWest Bank CEO Joseph Otting says.
February 23 -
There are some fairly basic, decisive steps banks could take to educate people outside the financial mainstream, and it would make banking more profitable, says John Bryant, the chairman and CEO of the nonprofit Operation Hope.
February 23 -
Ocwen Financial has tentatively agreed to sell a mortgage-servicing portfolio on $9.8 billion of loans to Nationstar Mortgage Holdings, and Ocwen hinted that more deals may be in the offing.
February 23 -
HSBC Holdings Plc, struggling to contain a scandal over tax evasion at its private bank, posted lower-than-expected full-year profit as costs rose and investment banking earnings tumbled.
February 23 -
Royal Bank of Scotland Group Plc will write down the value of its U.S. unit, Citizens Financial Group, by about 4 billion pounds ($6.2 billion) next week, a person familiar with the matter said.
February 23 -
A technology-savvy German bank's plan to open a branchless banking platform in the U.S. could eventually pave the way for more mainstream use of cryptocurrency platforms, such as Ripple and Bitcoin.
February 23 -
A bill introduced in the New York State Senate would make it illegal for debt collectors and creditors to use social media when attempting to collect debts.
February 22 -
Gemalto, which manufactures SIM cards and EMV chips, is investigating a report that U.S. and U.K. spy agencies hacked into the company's network and stole mobile phone encryption keys, a technology also used to secure card data.
February 20 -
Pinnacle Financial recently bought a 30% stake in a firm that originates most of its loans to doctors online and then auctions them to community banks. The move promises higher fee income, but could also put Pinnacle at the forefront of banking's hottest trend.
February 20 -
South Dakota officials are hoping the state legislature grants authority for the creation of a state office for debt collection, a proposal supporters believe could help bring in additional recoveries of up to $34 million in the next five years.
February 20 -
Online banking, ATMs and other advances have limited face-to-face transactions, but new Federal Deposit Insurance Corp. research says the brick-and-mortar office isn't going anywhere just yet.
February 20 -
WASHINGTON Federal regulators on Friday announced the second stage of a mandated review of banking rules meant to identify opportunities for relief.
February 20 -
Stifel Financial Corp. is in discussions to acquire Sterne Agee Group Inc., combining two of the biggest U.S. brokerages outside of New York.
February 20







