Future compensation structures should not only reflect the higher costs of servicing troubled loans but also open the business to more nonbank competitors.
Yes, an effective sales organization awakens customers to newly perceived needs. But it also markets the products that yield the highest return-not necessarily the ones customers would most want to buy.
Piggyback litigation often follows regulatory actions, and the laws under the CFPB's jurisdiction all but invite follow-on private lawsuits. A huge number of companies may be exposed.
History shows banks can't compete with agents selling consumers insurance. But credit protection products have been highly profitable for the banks, and can remain so - provided the products are reformed.
The CFPB's final rule exacerbates our dependence on the GSEs and FHA, potentially harms a large swath of potential borrowers and severely handicaps the market's ability to effectively serve customers.
There must be a concerted effort to open the way to successful homeownership to more Americans. This should include encouraging shorter-term mortgages so low down payment borrowers build equity faster.
Too often, branch employees simply manage a transaction, when they should be focused on engaging or educating the customer to make a lasting impression.
Issuers exempt from the interchange fee cap should continue to promote activation and use of their debit cards by way of issuer-sponsored and merchant-funded rewards.
Securitization is essentially a financial production factory. Consistency in the manufacturing process, which minimizes defects and hence promotes investor interest in the product, would allow the business to prosper again.
Have you ever caught yourself paying a $3 ATM fee to avoid driving across town? Add up the value of your time, gasoline costs, the need to complete a necessary task and it's easy to justify that $3.
