Tom Lopp abruptly suspended a program that accounted for 83% of Sterling Bancorp's mortgage production this year. An ongoing audit of the program and pressure to diversify beyond mortgages are reasons to watch Lopp and Sterling in 2020.
The FDIC was reluctant to sign off on the merger of Summit Bancshares and Faciam Holdings because the company planned to serve marijuana-related businesses.
The Department of Business Oversight said TitleMax charged consumers fees to push loan amounts above the threshold at which the state's rate cap applies.
The bank, whose 7(a) originations have plummeted in recent years, is developing a portal that will let applicants upload documents, complete forms and track application progress.
Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers.
Federal and state policymakers wagged their fingers this week at high-cost lenders that might be looking to team with banks to evade a 36% ceiling on interest rates.
