Smaller institutions are booking loans at a faster clip than bigger lenders, raising concerns that they are relaxing standards in order to win business.
The consent order against California Check Cashing Stores is part of a broader crackdown by the Department of Business Oversight on small-dollar lenders trying to skirt interest-rate limits.
Timothy Mayopoulos is back in the mortgage industry, becoming the new president of the digital mortgage technology developer Blend, months after leaving his post as Fannie Mae’s CEO.
The low-cost deposits it gained in its purchase of 52 Wells Fargo branches, combined with higher interest rates, lifted Flagstar's net interest margin.
Large financial institutions need to adopt a new mindset to compete with tech startups, one that allows them to take risks and put aside legacy systems.
