An increase in corporate loans, the highest lending margin in 4 1/2 years and record profit in asset management helped the lender top analysts’ estimates and offset trading and other challenges.
The Tennessee bank said it has bought Professional Mortgage in Greenville, S.C., which services about $1.1 billion of commercial mortgage loans for 23 correspondent life company lenders.
Efforts to make it easier for smaller businesses to apply for SBA loans, coupled by concerted expansion efforts among key regional and community banks, contributed to the third consecutive record for 7(a) lending.
The Independent Community Bankers of America is formally opposing a bank charter application by payments processor Square, accusing it of trying to “avoid” certain “legal prohibitions and restrictions.”
Lazaro de Mello Brandao, who at 91 is the world's oldest serving bank chairman, said he'll step down after more than 25 years in that role at Banco Bradesco SA, triggering a succession race at Brazil's second-largest bank by market value.
Diane Schumaker-Krieg has traveled the globe urging stressed Wells Fargo colleagues to carve out time for art, exercise and other rejuvenating activities. She says happiness correlates to career success.
The payday lending industry is planning to use the same playbook employed by the financial services industry in its fight against the CFPB's arbitration rule.
