Morning Scan: RBC Plans to Kickstart Jumbo Mortgages at City Nationa...

11/03/15

Wall Street Journal Royal Bank of Canada has big plans for wooing the wealthy now that it's locked up City National Bank. After closing its $5.4 billion purchase of the Los Angeles lender, the Canadian bank plans to rework its jumbo-mortgage product, in an attempt to lure more high-net-worth clients. It's not a novel concept. Other banks have used jumbo mortgages as bait to reel in the rich and sell them other products, such as investmentÂ...

[more]