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Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf.
June 17
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Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic.
June 17
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The legislation would aim to address concerns that the current policy is outdated by establishing a new regime to limit asset growth for banks that are not well-capitalized.
June 17
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While most companies that offer early access to wages sell to employers, Earnin is providing direct access to workers in an attempt to mitigate overdrafts and subsequent bank charges.
June 17
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The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic.
June 17
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The Los Angeles company said Commerce Mortgage, founded by former bank CEO Steven Sugarman, wasn't a shareholder by the record date for its annual meeting, even though the firm reported a 9.7% stake earlier this year.
June 17
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Credit unions have seen historic mortgage growth so far this year despite the pandemic, but there are concerns some institutions may be overly relying on refinancing and not focusing enough on generating new purchase business.
June 17
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The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists.
June 16
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The Fed chairman updated senators about the agency's new credit facility for midsize firms struggling in the pandemic. He also left open the possibility of additional stress tests to gauge the industry’s coronavirus response.
June 16
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A new study shows 60% of adult children whose mother or father are credit union members do not belong to the same institution as their parents.
June 16
