No individuals have been named in connection with the bank’s recent misdeeds, which resulted in a $1 billion fine, even as some senior leaders stand to gain from the government’s tax cut.
The mortgage industry is notorious for its complexity, but there are changes coming to U.S. home finance. Artificial intelligence is providing answers to lenders who need an improved process for mortgage lending.
The latest fine from regulators was leveled against the bank on Friday. But it's far from the only penalty it has paid in recent years, and more may be on the way.
Proposal would lower capital requirements for some, raise them for others; Mulvaney says enforcement division will continue to police lending discrimination.
Following its acquisition last November of Capital Bank in North Carolina, First Horizon will fund mortgage and small-business lending in low-income areas of the Southeast and expand its vendor relationships with minority-owned firms.
