The former New Jersey mutual is stepping up efforts to court bigger commercial clients. The move will help Investors diversify its loan book and deploy capital while it is barred from buying banks.
In March 1998, American Banker reported plans by Norwest Corp. to establish sales quotes and step up cross-selling. Three months later, the Minneapolis bank merged with Wells Fargo.
Consumer debt breaks the previous mark set back in 2008, but some are worried that people are returning to their profligate ways; Wells Fargo makes greater use of consumer surveys to fix its brand.
State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.
Attractive demographics, a large supply of startups that appeared built to sell and a surplus of smaller banks struggling with high expenses have combined to make the Mid-Atlantic one of the most active regions for mergers and acquisitions.
Fannie Mae and Freddie Mac should be able to rebuild a capital buffer to avoid any potential crisis in the mortgage market, according to a coalition of affordable housing advocates, homebuilders and small mortgage lender groups.
Advocates for the cannabis industry took to Capitol Hill on Wednesday to lobby for bank protections that would help legitimize the industry and give it access to financial services.
