Customers Bancorp says it expects to announce a deal to divest its BankMobile unit within 60 days. It could be an attractive target for a bank with strong loan demand.
The Federal Reserve Board approved a proposal Monday designed to exempt most of the 33 banks subject to annual stress testing from the “qualitative” aspects of the test.
Citigroup's plans to sell a $97 billion mortgage servicing portfolio and subservice its remaining accounts highlights the growing prevalence of nondepository servicers and raises questions about how much capacity exists for these institutions to absorb more large deals.
A federal appeals court ruled Monday that the Treasury Department will have to hand over more documents to investors of Fannie Mae and Freddie Mac related to its profit sweep of the two government-sponsored enterprises.
President Trump's order to eliminate two regulations for every new one does not apply to financial institution regulators, but may affect banks and credit unions in other ways.
Citigroup's decision to exit mortgage servicing by the end of 2018 is part of a long-term strategy to increase returns and sharpen the bank's focus on its core retail customers.
Senate Democrats delayed a planned panel vote Monday on the nomination of Treasury Secretary-designate Steven Mnuchin, pushing it back until Tuesday morning.
PHH Corp. is opposing an attempt by Democratic attorneys general in 16 states and the District of Columbia to intervene in an appeals court case that found the Consumer Financial Protection Bureau unconstitutional.
The largest U.S. banks are treading lightly in response to President Trump's executive order banning travel to the U.S. by refugees and others from certain Muslim nations. Corporate statements emphasize the need for diversity while stopping short of outright opposition.
