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The mortgage servicer will pay at least $25 million in cash and provide some $200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation's largest state.
February 17
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The Federal Home Loan Bank of Chicago's mortgage originations rose sharply in 2016 thanks to a reintroduction of its traditional Mortgage Partnership Finance loan product.
February 17
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The number of new checking accounts at the embattled Wells Fargo fell by double digits year over year, and account closures remained brisk. Yet the figures on credit card applications were worse.
February 17
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CUs celebrate the music of Harry Potter, real estate lending landmarks, and the credit union difference.
February 17
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American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
February 17
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Many bank overdraft-related practices favor profits over customer financial health, but those practices are driven in part by lost revenue from an ill-advised Dodd-Frank Act provision.
February 17
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The Federal Trade Commission is looking at whether auto finance companies that use sophisticated technology like ignition kill switches are illegally harassing subprime borrowers that have fallen behind on their payments.
February 17
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RI’s State Treasurer will open deposit accounts with local CUs and banks.
February 17
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U.S. District Judge Gladys Kessler is set to rule next week on whether to halt the Justice Department's quest to force banks to cut ties to industries it considers to be at high risk for criminal activity.
February 16
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After recording a $35.9 million quarterly loss, the online small-business lender said that it plans to reduce its annual expenses by $20 million, cut 11% of its staff and more than double its loan-loss provision from a year earlier.
February 16
