PayThink

History shows banks can't compete with agents selling consumers insurance. But credit protection products have been highly profitable for the banks, and can remain so – provided the products are reformed.

By downgrading the CRA rating of JPMorgan Chase, the OCC demonstrated it is capable of holding a major bank accountable for a deplorable record of serving the credit needs of low- and moderate-income communities.

The Consumer Financial Protection Bureau released its final rule on Thursday, establishing new standards for all mortgages.

The Consumer Financial Protection Bureau released its final rules restricting fees and lump-sum payments for certain high-cost loans on Thursday.

"Despite widespread fears by lenders that a 800-page rule released Thursday by the Consumer Financial Protection Bureau would end mortgage lending as we know it, the final regulation appeared to be significantly less onerous than many expected," writes American Banker's Rachel Witkowski.

The CFPB's final Qualified Mortgage rule exacerbates our dependence on the GSEs and FHA, potentially harms a large swath of potential borrowers and severely handicaps the market’s ability to effectively serve customers.

There must be a concerted effort to open the way to successful homeownership to more Americans. This should include encouraging shorter-term mortgages so low down payment borrowers build equity faster.

More than two billion people worldwide do not have a bank account, but do have a mobile phone, making the device a direct conduit to an underserved demographic.

Patent trolls generally prefer to avoid any decision on the merits at all costs, as an adverse ruling may damage their ability to file future cases. With that in mind, smaller institutions should feel comfortable drawing a line in the sand for a fair settlement.

Too often, branch employees simply manage a transaction, when they should be focused on engaging or educating the customer to make a lasting impression.