The Countrywide brand will be put out to pasture in April. “I can confirm that the combined Bank of America Mortgage and Countrywide Home Loans businesses will be branded as Bank of America Home Loans with a target date of April 27,” says BofA spokesperson Rick Simon. The mortgage unit is bulking up in certain areas, too. “To help meet and capture share of the current demand for mortgages, Bank of America is hiring about 1,000 associates in mortgage origination and processing across the country,” Simon explains. “This includes adding to our centralized retail sales capacity in the Charlotte area, hiring 300 associates to support our phone channel.” Most of the positions will be filled internally.
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The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
57m ago -
The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
5h ago -
The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.
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The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.
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Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
7h ago -
The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.
9h ago