While the looming loan-loss accounting standard has been criticized for its complexity and the potential cost to implement, some advocates believe it could also lead to better pricing decisions and improve communication within a bank.
A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.
The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO.
With values on multifamily properties soaring, some building owners are using aggressive tactics to push out existing tenants to make room for higher-earning ones. That’s raising questions about whether their lenders are abetting this behavior.
The creation of the Consumer Financial Protection Bureau was widely expected to centralize regulation of payday and other high-cost loans in Washington. It hasn’t worked out that way.
In a 2015 enforcement action, the San Francisco Fed said it had identified problems with the Pasadena, Calif., bank’s BSA and anti-money-laundering compliance programs.
The company, which is dealing with a lawsuit from the Federal Trade Commission tied to certain fees, hired Ronnie Momen from GreenSky as its chief lending officer.
