The tax law is expected to eliminate 300,000 affordable housing units over 10 years in part because it will reduce the value of banks’ low-income tax credits, which finance half of all affordable housing units.
About a third of U.S. banks are S corporations, and many are rushing to determine whether the new tax law has robbed them of their appeal and if they should convert to traditional corporations by the March 15 deadline.
PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012.
Rep. Emanuel Cleaver, D-Mo., has emerged as one of the most outspoken members of Congress when it comes to fintech, both embracing its potential and calling for regulatory guardrails.
The aim is not just to get consumers to act on a credit card offer or open a savings account, but to use the insight gleaned to build long-term relationships — without coming across as manipulators.
Banks of all sizes continue to invest in mobile technology — but in order to see stronger growth, they must also invest in education to overcome consumer unease with the product.
The two payments companies failed to win U.S. government approval for their merger; the head of the Senate Finance Committee says he will leave when his term ends.
The Consumer Financial Protection Bureau dominated three of the top most read stories of last year, while Ripple upstart seized two. Other highlights included our annual Women in Banking package, the aftermath of the Equifax data breach and news of Amazon's possible banking plans.
Commercial customers, including small businesses, seem ready to pay up to shift to faster, more sophisticated electronic invoicing and payments, and enterprising banks that provide them the technology to do so could find it lucrative.
The Office of the Comptroller of the Currency said Tuesday that Norman Williams will oversee the three research and analysis divisions that assess financial and economic risks to banks.
