Unlike past federal guidelines, the QRM exemption does not include credit scores. Instead, it requires financial institutions to perform an inflexible manual review of derogatory factors in the borrower's credit report.
The total notional value of credit-default swaps has reached almost $30 trillion. I doubt there has ever been an industry or product line that expanded so fast or got so big without attracting serious scrutiny.
Banks must make significant changes to their branch networks, further automating transaction processing, changing the skills sets of branch employees, and altering the physical designs of branch offices
To do any good the robo-signing settlement should include mandatory, widely applicable principal reductions targeted to homeowners who were the hardest hit.
The manner in which a bank deals with its employees in the aftermath of a layoff can be just as important as the manner in which the layoff itself was conducted.
By embedding new, modest but ill-defined one-size-fits-all requirements in legislation, the Dodd-Frank Act further politicized the determination of risk retention requirements.
