BankThink

Banks refusing gun industry business is 'troubling,' CFPB chief says

04/12/18

Opting out of doing business with the firearms industry is "troubling" behavior from banking institutions, said Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, during a hearing on Thursday.

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MB Financial to exit national mortgage lending

04/12/18

The Chicago company said its decision was largely based on intense competition, very low margins and economic changes.

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Online lenders adopt the model they sought to disrupt

04/12/18

As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts.

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Democrats ask if military job was dangled to Manafort lender

04/12/18

Reps. Elijah Cummings and Stephen Lynch sought records related to a banker's communications with former Trump campaign manager Paul Manafort and the Trump campaign, and about his bank's loans to Manafort.

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Kabbage is said to acquire startup backed by Mack, Pandit

04/12/18

Orchard Platform Markets, a provider of lending data and services backed by the former heads of Citigroup and Morgan Stanley, is set to be acquired by small-business lending platform Kabbage, said people familiar with the deal.

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New twist in CFPB fight: Judges question Mulvaney’s dual role

04/12/18

A panel of judges remained skeptical of claims by Leandra English, deputy director of the Consumer Financial Protection Bureau, that she is the rightful head of the agency. But they didn’t sound convinced that current acting Director Mick Mulvaney is, either.

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Banks were told tax reform would spur lending. They’re still waiting

04/12/18

Investors are growing worried about lackluster loan growth this year at community banks.

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Grading Treasury’s CRA reform memo: ‘Incomplete’

04/12/18

The Treasury Department’s long-awaited report on modernizing the Community Reinvestment Act was heavy on glittering generalities but light on specifics, which explains why the report punted the real job of making needed reforms.

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Profits rise at Bank of the Ozarks, but so do expenses

04/12/18

Loan growth and higher yields helped offset a 20% increase in expenses at the Arkansas bank in the first quarter. Meanwhile, it warned of one-time rebranding costs to come in the third quarter.

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BofA, Citi plan next-gen branches

04/12/18

Bank of America is investing heavily in videoconferencing at unstaffed branches, Citigroup is experimenting with gamification and Union Bank’s PurePoint Financial is going entirely paperless.

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