BankThink

Equifax is tipping point for credit bureau reform, lawmakers say

10/04/17

Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax.

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CFPB gives more time to reach troubled borrowers in servicer rule revision

10/04/17

The Consumer Financial Protection Bureau said Wednesday that it would give mortgage servicers more time to notify distressed borrowers who have asked not to be contacted about the collection of their debts.

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Alexa, get me a mortgage

10/04/17

Some banks are looking at how to translate the complicated and document-heavy mortgage lending process into the digital world of voice interactive personal assistants.

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Wells Fargo to offer fee refunds to 110,000 mortgage customers

10/04/17

The bank plans to contact all customers who paid fees for rate lock extensions during a three-and-a-half year period and to refund any who believe they should not have been charged.

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Lifetime Achievement: TD Bank’s Linda Verba

10/04/17

Verba's two-decade career at one of the East Coast's fastest-growing banks began with an old-fashioned letter to a local bank when she was in her late 40s and an epiphany about work-life balance.

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Red alert: When customers know more about your products than you do

10/04/17

One of the missteps in banks’ attempts to build productive sales and service cultures is overemphasizing sales processes and tactics while underappreciating product knowledge.

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Equifax, Wells chiefs face angry lawmakers

10/04/17

Former Equifax CEO blames one employee’s mistake for the massive hack; Warren calls Sloan “incompetent” and says he should be fired.

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Home Builders soften stance on mortgage interest deduction

10/03/17

The National Association of Home Builders is backing off of long held support for the mortgage interest deduction in hopes that the Trump administration can deliver on its promise of lower taxes.

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New CEO, same drubbing for Wells on Capitol Hill

10/03/17

Wells Fargo CEO Tim Sloan took heat from Senate Democrats, who questioned his fitness for the job, the bank's use of mandatory arbitration clauses and even whether its charter should be revoked.

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As ex-Equifax CEO testifies, all credit bureaus are on trial

10/03/17

Richard Smith came to Capitol Hill this week to speak about the massive breach at Equifax, but it was clear Tuesday that he will be defending the entire credit reporting industry.

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