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BofA, Citi and Union Bank map out next moves in branching; MB Financial and Regions exit business lines; a dramatic reduction in regulatory actions under Trump; and more from this week's most-read stories.
Exit sign.

MB Financial to exit national mortgage lending

The Chicago company said its decision was largely based on intense competition, very low margins and economic changes.

(Full story here.)
A BB&T logo hangs atop the the bank's headquarters building in Winston-Salem, North Carolina.

Regions to sell insurance business to BB&T

BB&T is the nation's fifth-largest insurance broker. The deal, expected to close in the third quarter, would further expand its reach in the Southeast and Texas.

(Full story here.)
Dena Roten, head of the Citibank's U.S. branch channel.

BofA, Citi plan next-gen branches

Bank of America is investing heavily in videoconferencing at unstaffed branches, Citigroup is experimenting with gamification and Union Bank's PurePoint Financial is going entirely paperless.

(Full story here.)
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Bank of America launches a (mostly) digital mortgage

Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.

(Full story here.)
Millennial attitudes on investing, Accenture research

Digital wealth tools help banks reel in new assets, talent

BMO Wealth Management aims to modernize its investment service and give advisers better equipment. Others offering automated advice solutions include UBS, Wells Fargo and JPMorgan.

(Full story here.)
Product offerings of 4 online lenders

Online lenders adopt the model they sought to disrupt

As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts.

(Full story here.)
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Bank regulatory actions under Trump fall to historic lows

As lawmakers consider reforms to the Dodd-Frank Act, fresh data shows a dramatic reduction in new items issued by the regulatory agencies.

(Full story here.)
Joseph Otting
Joseph Otting, comptroller of the U.S. currency, speaks after being sworn-in during a ceremony at the U.S. Treasury in Washington, D.C., U.S., on Monday, Nov. 27, 2017. Otting, a former OneWest Bank Group chief executive officer, won Senate approval this month to lead a key U.S. bank regulator, further clearing the way for the Trump administration to roll back Wall Street regulations. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg

5 items on OCC chief's reg relief to-do list

Comptroller of the Currency Joseph Otting laid out an ambitious regulatory reform agenda Monday, telling a group of community bankers that he is committed to CRA upgrades, new flexibility in BSA compliance and other measures.

(Full story here.)
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Credit unions are buying more banks. Get used to it.

Four banks have agreed to be sold to credit unions this year. Expect more deals between the longtime nemeses because the smallest banks are of less interest to other banks than they used to be, and some credit unions are in growth mode.

(Full story here.)
For sale sign
First time buyers and a real estate agent, center, enter a home for sale in Warren, Michigan, U.S., on Saturday, March 18, 2017. The National Association of Realtors is scheduled to release exiting homes sales figures on March 22. Photographer: Daniel Acker/Bloomberg
Daniel Acker/Bloomberg

Regulators are fueling another housing boom

The government is pushing up mortgage prices to dangerous levels by easing credit standards in a market where supply is low but demand is high.

(Full story here.)

Originations