Bank’s alleged lax controls enabled a former customer to launder money in a payday lending scheme; digital currency has made back a chunk of its recent decline.
Popular will acquire $1.5 billion in auto loans amid questions about the potential for loan losses following Hurricane Maria. The deal also coincides with Wells Fargo's need to stay inside a growth cap imposed by regulators.
In some states, total mortgages outstanding are at all-time highs, but in others hard hit by the financial crisis they remain well below their 2008 peaks, the New York Fed said Tuesday in its quarterly report on household debt.
U.S. consumers are borrowing more than ever to buy homes and cars, pay for college and even finance every day purchases. Is it a display of confidence in the U.S. economy or are many households living far beyond their means?
It’s not necessarily new, but a confluence of trends — advances in technology, changing consumer preferences and banks’ need to diversify their balance sheets — has made it more popular than ever.
If the Fed order is lifted quickly — a big if — then the impact on Wells should be minimal. But if it lingers past 2018, then the bank could find itself on the losing end of the battle for customers and top talent.