The bank says it has restored access, but it hasn’t explained how a fire-suppression system at one facility could cause a nationwide outage across all of its channels, or how its system as a whole could have been left so vulnerable to the incident.
Wide coverage of the mega-deal between BB&T and SunTrust; GSE reform, CFPB underwriting rule are on collision course; Swift showing more swagger in its rivalry with Ripple; and more from this week's most-read stories.
A lawsuit alleging Wells Fargo improperly compensated its California-based mortgage loan officers could have broader ramifications now that it has been granted class certification.
“The board's record of summarily approving mergers raises doubts about whether it will serve as a meaningful check on this consolidation that creates a new too big to fail bank,” Sen. Elizabeth Warren said in a letter to the Fed.
SunTrust’s merger with BB&T is the largest bank deal since the financial crisis, and mortgages will play a critical role in the execution of this transaction.
A recent joint analysis of large syndicated loans urged banks to improve their risk management, even though evidence suggests that nonbanks, not banks, hold the higher share of risky leveraged loans.
