Wall Street banks comment on the president's temporary halt on immigration from Muslim-majority nations; Trump promises to do "a big number" on financial reform act.
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.
