Banks are taking back more farmland through foreclosure than at any point in the past three years as low crop prices, epic flooding and the Trump administration’s trade spat with China have left many farmers struggling to pay their debts. ... Read full article
The company withdrew an earlier bid to become an ILC after regulators identified problems with its application. It is seeking a Nevada bank charter because it wants to add deposit management services and expand into small-business lending. ... Read full article
It’s hard to time the next economic slowdown. But lenders, many with lingering memories of the financial crisis, are taking steps now to limit exposure in commercial real estate, construction and other loan segments. ... Read full article
The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession. ... Read full article
The moves are part of a plan CEO Rajinder Singh discussed in a conversation with American Banker. ... Read full article
Civil rights activist Jesse Jackson is pushing a proposal that the billions banks have paid in fines be given to Americans who lost homes or suffered in other ways during the financial crisis. ... Read full article
The Los Angeles bank will take a $1.4 million hit to earnings after the multifamily properties sold for less than their book value. ... Read full article
The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages. ... Read full article
Credit card issuers would have to set aside more in reserves because of higher loss histories, according to research by Keefe, Bruyette & Woods on the impact of the new loan-loss standard. ... Read full article
The U.S. Supreme Court turned away a broad challenge to the structure of the Consumer Financial Protection Bureau, the agency that Republicans say has stifled economic growth through over-regulation. ... Read full article
Richard Harra was also fined $300,000 for painting a false picture of the bank’s financial health at the height of the financial crisis. ... 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 investors initially won the right to sue as a group in 2015 before an appeals court reversed the ruling; the $13 billion lawsuit can now proceed as a class action. ... Read full article
A ruling involving a Cleveland law firm casts doubt on CFPB claims that attorneys misrepresent their role to consumers. ... 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
The Senate's farm bill would prevent the July 31 lapse of the National Flood Insurance Program, but it still needs to be debated in conference with the House. ... 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 Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor. ... Read full article
The company has also hit its goal of having half of total loans tied to customers around Atlanta. ... Read full article
