The fintech's new products may violate several banking and securities regulations and could mislead the public about the differences between coverage on banking and investment accounts, industry officials say. ... Read full article
A CFPB report says the bank is the most expensive bank for college students; lenders would be banned from mailing high-interest loans disguised as checks. ... Read full article
Balances from the 52 branches Flagstar bought from Wells Fargo fell by 22% between the deal's announcement and closing, forcing the Michigan company to adjust the math for earning back tangible book value. ... Read full article
Nearly 60% of people thinking about switching banks would be open to banking with a big tech company if they ever get that option. Cash incentives or existing savings accounts are big factors in consumer decisions — and things that banks could keep in mind ... Read full article
Wells Fargo charges students nearly four times as much in fees as banks without college marketing agreements, according to an internal report by the Consumer Financial Protection Bureau. ... Read full article
It’s still primarily a commercial bank, but the branding campaign — CIT’s first in a dozen years — is designed to appeal to the group driving its torrid deposit growth: retail savers. ... Read full article
An eight-month-old consent order appears to be forcing the San Francisco bank to grapple more deeply than it did previously with the many failures that led to its account-opening scandal. ... Read full article
Amid negotiations with Synchrony Financial over the potential purchase of a $10 billion portfolio, Capital One's Richard Fairbank indicated Wednesday that he is willing to walk away. ... Read full article
CFO John Gerspach said he's not worried about legislation in Mexico to ban retail banking fees becoming law based on recent comments by the nation's president. ... Read full article
The company also expanded the responsibilities of Chief Administrative Officer Andrea Smith. ... Read full article
Speaking at an investor conference Wednesday, John Turner said that sellers’ asking prices are too high and that Regions would prefer to buy a nonbank that could help boost fee income. ... Read full article
A report released Tuesday echoes bankers’ arguments that the USPS is ill-equipped to manage the risks. ... Read full article
Regulators are considering reforms to the Community Reinvestment Act, but it’s not clear that the law is needed anymore. ... Read full article
U.S. earnings climbed 44% from a year earlier, aided by lower taxes, a widening net interest margin, record contributions from its stake in TD Ameritrade. ... Read full article
The card is being launched in partnership with U.S. Bancorp, which will handle the underwriting and provide the credit. ... Read full article
John Corbett has known the leaders of National Commerce since he helped launch CenterState in 1999. It’s a big reason CenterState is breaking from tradition to hire those executives once it buys the Alabama bank. ... Read full article
Traditional institutions shouldn’t just develop stand-alone online banks on top of existing infrastructure. They’d be best served building these “parallel” banks from the ground up. ... Read full article
The Michigan company has committed $50,000 to the partnership over the next two years amid a big push to modernize its product and service offerings. ... Read full article
Readers react to trends in public banking, weigh potential changes for brokered deposits, consider oversight of foreign banks and more. ... Read full article
Are midsize banks in position to disrupt, or are they investing billions in technology because they can’t afford not to? ... Read full article
