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.

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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.

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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.

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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.

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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.

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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.

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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.

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Joseph Otting
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.

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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.

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For sale sign
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.

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