BankThink

'Not a good omen for the industry': Comments of the week

11/08/18

Readers sound off on the 2018 midterm election results, OCC's Otting defending his agency's right to charter fintechs, and predictions the plastic credit card is nearly dead.

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UBS sued by U.S. for fraud tied to mortgage-backed securities

11/08/18

UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.

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OCC’s lax oversight compounded costs of thrift failure, IG says

11/08/18

Examiners could have done more to minimize the brunt to the Deposit Insurance Fund from Washington Federal Bank for Savings, which hid fraudulent loans and will cost the fund more than $80 million, according to a report from the Treasury’s inspector general.

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McHenry to run for top GOP spot on House banking panel

11/08/18

There was speculation the North Carolina congressman wanted a higher Republican leadership role, but on Thursday he expressed interest in the ranking member position.

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UBS face $6 billion fine as tax-fraud trial nears end

11/08/18

The Swiss banking giant has been accused of helping wealthy French clients hide assets from tax authorities.

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Beware the tidy narrative about Operation Choke Point

11/08/18

Payday lenders argue that banks cut ties with their industry due to pressure from biased and hostile regulators. But the reality, in some cases, may be more nuanced.

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Banks’ payoff from minimum-wage hikes

11/08/18

Raises for the rank and file have fueled investor complaints that banks aren’t keeping a lid on expenses. Executives say the pay increases have lowered turnover and improved customer service.

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Waters' priorities: Thwarting Trump, shielding consumers, housing

11/08/18

The presumptive chair of the Financial Services Committee resumed her tough criticism of the administration, but also committed to "hearing a range of views" if handed the gavel.

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All in the wrist: Smartwatches centerpiece of HSBC branch pilot

11/08/18

Staffers at the bank's flagship, multilevel branch in Manhattan say wearable tech has proven ideal for discreet communication among each other to speed customer service.

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What bankers want from CRA reform

11/08/18

The head of the Consumer Bankers Association lays out four industry priorities for the regulatory push to overhaul the Community Reinvestment Act.

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