Retail & Commercial

New York State regulators may bring an enforcement action against the German bank as early as this month; Wells Fargo’s decision to stop making loans to the dealers has more to do with credit quality than asset limits.

Financial institutions are trying to determine how to best protect branches as some demonstrations following George Floyd's death turn violent.

Tyrie has advanced Bank of America’s virtual assistant Erica and rolled out easier-to-use digital products that resonate strongly with customers. Those achievements have earned him recognition as one of American Banker’s digital bankers of the year.

The consumer bureau said Approved Cash Advance improperly collected amounts that were five times higher the legitimate fee schedule disclosed to borrowers.

The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans.

An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing.

With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them.

Loan volumes were already slowing before the pandemic. New restrictions and changes in consumer behavior are likely to make growth in this portfolio even harder.

The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.

Many of the cultural changes instituted by Hisham Salama, one of American Banker’s 2020 digital bankers of the year, have led to a more agile tech team and higher customer satisfaction scores.