Consumer banking
Consumer banking
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Wells Fargo is in succession-planning mode. CEO John Stumpf is moving CFO Tim Sloan, widely considered to be one of his potential heirs, over to run the wholesale banking business, and promoting securities head John Shrewsberry to replace Sloan.
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Charles M. Williams, co-chief executive of CertusBank, has quit the Greenville, S.C., company amid allegations of gross mismanagement.
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Hancock Holding (HBHC) in Gulfport, Miss., has agreed to sell its property and casualty and group benefits lines of business to AssuredPartners in Lake Mary, Fla.
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First Federal and Bay View are combining similar sized institutions that have complementary infrastructure, earnings and products. Though small, the deal could serve as a model for mutuals interested in keeping their charter and culture.
April 1 - New York
Ten auto repossession companies will stop claiming vehicles on behalf of title-loan companies under agreements with New York Attorney General Eric Schneiderman.
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Rep. Maxine Waters' plan to overhaul the mortgage finance market may be dead-on-arrival in the House, but it is still likely to help determine the fate of a separate Senate bill seen as the leading congressional attempt to enact reform.
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Eliminating payday lenders would create a void that banks, thrifts, and credit unions cannot or are reluctant to fill. With greater transparency, payday lenders can become a viable partner in the small-cash market.
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The Consumer Financial Protection Bureau needs to improve the efficiency of its program for direct supervision of banks and non-banks, the inspector general at the Federal Reserve, which audits CFPB activities, said.
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Tax provision would help distressed homeowners seeking workouts and short sales from being penalized by the IRS.
April 1 -
Wells Fargo (WFC) has reached a deal to issue private-label and co-branded credit cards with the department store chain Dillard's (DDS).
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The Federal Home Loan Bank of Atlanta has appointed Bank of Georgetown Chairman Michael Fitzgerald to its board of directors.
April 1 -
Coconut Grove Bank in Miami has appointed Donald Putnam chief lending officer.
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This "product" is weakened in the customers' mind when interacting with a living, breathing banker inevitably involves fending off sales pitches.
April 1 -
Charlie Shrem, a prominent evangelist for Bitcoin who is charged by the U.S. with conspiring to launder more than $1 million in the virtual currency tied to the illicit online bazaar Silk Road, is in plea talks, prosecutors said.
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Consumer complaint volume nearly doubled from 91,000 in 2012 to 163,700 in 2013, according to the Consumer Financial Protection Board's Consumer Response Annual Report.
April 1 -
NewBridge Bancorp (NBBC) in Greensboro, N.C., has completed its redemption of preferred stock tied to the Troubled Asset Relief Program.
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The property tax delinquency rate for Detroit landlords receiving Section 8 payments is 26%, and they collectively owe the city at least $5 million.
April 1 -
QCR Holdings (QCRH) in Moline, Ill., has redeemed more preferred stock it issued to the Treasury Department under the Small Business Lending Fund.
April 1 -
Bankwell Financial Group (BWFG) in New Canaan, Conn., has agreed to buy Quinnipiac Bank & Trust in Hamden, Conn.
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Much has been written about the revolutionary impact Big Data will have on businesses, including benefits to lenders in terms of improving marketing and risk management.
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