BankThink

House approves bills to simplify remote account opening, stop senior financial abuse

01/30/18

The Mobile Act would allow financial institutions to scan or copy a customer’s photo ID when opening an account remotely, while another bill contained provisions that would protect bankers from lawsuits if they report suspected elder financial abuse.

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CIT posts 4Q loss, but lending and leasing expand

01/30/18

The results included a $222 million goodwill impairment charge and other one-time items

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Coastal Bank in N.C. turns to private placement to raise $8 million

01/30/18

The bank said it plans to use proceeds from the placement to expand its operations.

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Regulators’ worries about FHLB risk are outsize

01/30/18

Federal Home Loan banks have significantly increased their lending to large financial institutions in the post-crisis years, but it’s doubtful this activity will create undue systemic stress because it has displaced other, riskier forms of bank funding.

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JPMorgan, Amazon, Berkshire Hathaway go their own way on health care

01/30/18

The companies said they plan to set up an independent firm “that is free from profit-making incentives and constraints” to offer health care to their employees.

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Union in Va. adds heft in wealth management with latest acquisition

01/30/18

The company will add $600 million in assets under management when it buys a Roanoke, Va., firm.

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Looking beyond Dimon; Wells taps mortgage chief

01/30/18

JPM CEO is expected to remain at the bank for another five years; Michael DeVito had been serving on an interim basis since his predecessor was fired late last year.

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Kabbage to further challenge banks with $250,000 credit lines

01/30/18

The online lender to small businesses is expanding its business deeper into traditional banks’ territory with larger loans.

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JPMorgan's executive shuffle: Is a woman CEO out of the picture?

01/29/18

Speculation has existed for awhile that JPMorgan Chase could be the first of the megabanks to name a woman chief executive, but the elevation of executives Daniel Pinto and Gordon Smith to co-presidents and co-COOs seemed to put them in the lead to succeed Jamie Dimon.

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Mulvaney could use Dodd-Frank to gut CFPB mortgage rules

01/29/18

The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.

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