Wells Fargo is exploring the sale of its asset-management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter.
The bank is also taking $174 million in pay from executives, including its current and former CEOs; civil rights groups say the new rule will make it harder to prove housing discrimination.
As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.
Kicking off its Rising Stars Week, The Bond Buyer announces the 2020 class and sits down with three newly-minted members to discuss the muni market's adaptation to and recovery from pandemic-driven challenges.
When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly.
Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation.
Institutions that cling to outdated lending tools run the risk of being left behind by commercial clients who are barraged with opportunities to borrow faster and more conveniently.
