Wells Fargo to cut up to 26,000 jobs within three years
The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020. ... Read full article
The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020. ... Read full article
The Office of the Comptroller of the Currency’s questions for the public to comment on the decades-old law could illuminate a path forward as regulators struggle to agree on an updated policy. ... Read full article
The Banking Committee had delayed a vote on Kathy Kraninger’s confirmation after the Senate announced a short summer recess. ... Read full article
Steve Calk, the head of The Federal Savings Bank, was a "co-conspirator" in an effort to defraud the Chicago bank, a prosecutor said at the trial of former Trump campaign chair Paul Manafort. Could Calk be charged with a crime? ... Read full article
Brian Johnson will serve as the agency's acting deputy director, succeeding Leandra English, who recently said she plans resign from the CFPB. ... Read full article
The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers ... Read full article
Commercial real estate is their bread and butter, but many banks are scaling back in this vital loan category. Here’s why. ... Read full article
The measure, which has been compared to the EU’s new consumer privacy rules, grants Californians new rights over how companies collect and use their personal data. ... Read full article
Kathy Kraninger, an obscure official at the Office of Management and Budget, is President Trump's leading candidate to become director of CFPB, according to sources. ... Read full article
The Rhode Island regional agreed to buy Franklin American Mortgage in a deal that will give it one of the nation's 15 largest bank-owned mortgage platforms. ... Read full article
Since taking office in November of last year, acting Consumer Financial Protection Bureau Director Mick Mulvaney's actions have sparked outrage seemingly at every turn, including several times just last week. ... Read full article
CEO Tim Sloan and board chair Elizabeth Duke fielded tough questions Tuesday on everything from the embattled bank’s culture to its ties to the private prison industry. ... Read full article
The Cincinnati bank reported strong profits, but its efforts to lower credit risk curbed lending as expenses rose in the first quarter. ... Read full article
The agency's acting chief said hundreds of data breaches justified a halt on collecting information from firms, but experts question that logic. ... Read full article
The legislation would prohibit the CFPB from penalizing institutions that rely in good faith on guidance from the bureau. ... Read full article
The Providence, R.I., company reported a double-digit increase in quarterly profits despite a year-over-year decline in fee-based revenue. ... Read full article
The latest fine from regulators is expected to be leveled against the bank as early as Friday. But it's far from the only penalty it has paid in recent years, and more may be on the way. ... Read full article
Bank regulators have not even proposed a plan yet for revamping the Community Reinvestment Act, but stakeholders likely to weigh in on the plan are already establishing battle lines. ... Read full article
Senate Democrats accused Housing and Urban Development Secretary Ben Carson and his agency of failing to enforce fair housing laws. ... Read full article
Critics of the Consumer Financial Protection Bureau have long sought to convert its leadership structure from a single director to a five-member commission. Here’s why the idea is dead on arrival. ... Read full article