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JPMorganChase's Alfredo Porretti has left the firm; two junior Goldman Sachs bankers took part in a controversial fashion shoot; Societe Generale appointed Selina Cheung head of equity capital markets in Asia Pacific; and more in this week's banking news roundup.
March 6
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Chief economists at large and regional banks predicted ongoing inflation, in part because of the anticipated surge in oil prices as a result of the Iran war. The forecast from the American Bankers Association's Economic Advisory Committee did not account for the disappointing U.S. jobs report on Friday.
March 6
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The credit union closed three of its overseas locations in response to the conflict. Military-focused financial institutions are instead offering digital banking to deployed service members.
March 6
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The Mortgage Industry Standards Maintenance Organization is nearing completion on the first of a three-phase Veterans Affairs loan guarantee modernization effort.
March 6
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Five major U.S. banks are engaging in costly litigation rather than reimburse fraud claims of a 72-year-old dementia patient who lost $337,000 in a romance scam. The victim's lawyer says banks are not abiding by the consumer protection process.
March 6
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Many homeowners and first-time buyers are surprised by rising property taxes and insurance, which can sharply increase monthly mortgage costs beyond principal and interest.
March 5
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Glen Herrick, a veteran bank director, penned a resignation letter criticizing the West Virginia company's executive-compensation policies and what he described as a failure to focus on core profitability.
March 5
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With an application for a U.S. bank charter, the global super app provider aims to expand its offerings and compete with established domestic challengers.
March 5
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While this only shows a 2-basis-point rise in the 30-year fixed since last week, the Lender Price product and pricing engine data is 30 basis points higher.
March 5
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The Chicago-based lender service provider, which has helped build Northeast Bank in Maine into an SBA powerhouse, has expanded its capacity with an AI-driven technology upgrade.
March 4
