Consumer banking
Consumer banking
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A borrower who defaulted on a mortgage during the recession is not necessarily a bad risk for a credit card lender. To properly evaluate risk in the current environment, First Data is adopting a new instant-credit decisioning and underwriting system from Zoot.
September 8 -
Sudden pessimism over the economy has flattened interest rates, and revived refinancing volume and mortgage production margins.
September 8 -
Whitney's sale to Hancock put it in direct battlegrounds for business with Iberiabank.
September 8 -
Equity Bank in Andover, Kan., is bulking up in its home state with deals to acquire a small bank in Lawrence and four branches in Topeka from a Missouri bank that is exiting the market.
September 8 -
Government-sponsored enterprise Freddie Mac told investors this month that it is not considering "significant discount pricing" when selling its backlog of foreclosed homes, according to a letter obtained by American Banker. A spokesman said the agency doesn't want to "tank" the housing market.
September 8 -
AmericanWest Bank has struck its third deal this year, this time forViking Financial Services Corp. in Seattle.
September 8 -
The Federal Reserve on Thursday announced a written agreement with Stonebridge Financial Corp. in West Chester, Pa.
September 8 -
Alliance Data Systems Corp. said Thursday that Ivan Szeftel, president of its private label services business, will retire from that position in March.
September 8 -
In an effort build scale and improve efficiency, Haverhill Bank in Massachusetts has struck a deal to merge with Economy Co-operative Bank in Merrimac.
September 8 -
Leslie Gillin was named as head of Citi Cards sales and marketing, Valerie Greer was named head of partnerships and the young adult unit and Barry Rodrigues was named global head of network strategy and management.
September 8 -
Fast-growing Signature Bank in New York announced Thursday that it has opened a new office in Manhattan and recruited a team of bankers from HSBC USA to join one of its private-client banking offices in Queens.
September 8 -
Bank of America's Montag and Darnell received broad power to downsize the company. They don't plan to blow it up, but will ramp up selective sales of servicing rights, equity stakes in other businesses and undervalued assets.
September 8 -
NACHA survey finds twentysomethings long to be green and reduce clutter.
September 8 -
Heritage Oaks Bancorp in Paso Robles, Calif., has named longtime California banking executive Simone Lagomarsino as its new president and chief executive officer and as CEO of its subsidiary, Heritage Oaks Bank.
September 8 -
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MGIC Investment Corp. and Radian Group Inc., the two largest U.S. mortgage insurers, are benefiting as their rivals falter.
September 7 -
Foreclosures continue to decimate communities around the nation, with black neighborhoods being the hardest hit. Some pundits and politicians point to federal policies that encouraged homeownership in low- and moderate-income communities, coupled with reckless behavior on the part of greedy homeowners, as the crux of the problem. One example is the statement by Fox News reporter Neil Cavuto that "loaning to minorities and risky borrowers is a disaster." To the contrary, our recent research demonstrates that it is outside investors living in other, predominantly white neighborhoods, not local homeowners, who account for the adverse impact on our nation's black communities.
September 7 -
Bank of America Corp.'s most richly compensated executive, Thomas Montag, may become a future candidate for the top job after a shake-up elevated him to co-chief operating officer at the money-losing lender.
September 7 -
Capitol Federal Financial Inc. in Topeka, Kan., has decided to wait until its one-year anniversary as a 100% stock-owned company before before pursuing a stock buyback program.
September 7 -
Bank of America Corp.'s dismissal Tuesday night of top wealth management executive Sallie Krawcheck may point to a deeper commitment to the Merrill Lynch business.
September 7




