BankThink

Senate Banking advances CFPB nominee over Dem objections

08/23/18

The committee approved the nomination of Kathy Kraninger to head the Consumer Financial Protection Bureau, despite strong Democratic opposition, as well as President Trump's picks for Ginnie Mae, the Export-Import Bank and several other positions.

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Additional Wells misdeeds obscured by arbitration: Calif. official

08/23/18

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

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Taking social consciousness into account with bank M&A

08/23/18

Seacoast readily agreed to buy First Green Bank. The next step is determining which of the seller's programs, including car-charging stations and discounted rates for green projects, to keep.

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CIBC's 3-year streak of outpacing rivals on mortgages ends

08/23/18

A deceleration in mortgage balances ends CIBC's three-year streak of outpacing Canada's other large lenders on mortgage growth. Royal Bank of Canada said this week that mortgage balances were 5.9% higher than a year earlier.

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Wells Fargo says it isn't anti-weed, it's pro-following the law

08/23/18

Wells Fargo isn't making a political statement, it's following the rules. So goes the bank's response to backlash over terminating a pro-medical marijuana politician's banking relationship because of her advocacy and contributions from industry lobbyists.

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Bank earnings ride tax reform wave to another record: FDIC

08/23/18

The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health.

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It's past time to overhaul overdraft

08/23/18

The service can be useful for customers short on cash, but financial institutions need to clarify overdraft rules and develop alternative forms of credit.

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MidWestOne to broaden Heartland operations with ATBancorp deal

08/23/18

The company will enter the Iowa cities of Des Moines and Dubuque as part of the $170 million acquisition.

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Renaud Laplanche’s comeback venture raises $62 million

08/23/18

Upgrade, a marketplace lender founded by Laplanche just a few months after he was ousted from LendingClub, has secured more than $100 million in equity capital and says it is poised to offer more consumer credit products.

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Layoffs at JPM; SEC rejects nine bitcoin ETFs

08/23/18

The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation.

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