Time for CFPB to move forward on small-business lending
With a permanent director confirmed, the agency should take steps to establish a small-business data collection rule mandated by the Dodd-Frank Act. ... Read full article
With a permanent director confirmed, the agency should take steps to establish a small-business data collection rule mandated by the Dodd-Frank Act. ... Read full article
The Federal Reserve is examining how Deutsche Bank handled billions of dollars in suspicious transactions from Denmark's leading lender, according to people familiar with the matter, further intensifying what could be one of the biggest ... Read full article
The Florida bank sold $344 million of taxi-medallion and other loans in the fourth quarter, saying it was positioning itself for the future. ... Read full article
Seventy-eight percent of global banks now use regulatory stress tests to assess concentrations and set limits internally, according to a Deloitte survey to be released Wednesday. That's up from 67% in 2012. Eighty-seven percent of respondents said ... Read full article
Double-digit gains in net interest income more than offset sluggish growth in fee income at the Salt Lake City company. ... Read full article
The McLean, Va., company also reported a decline in charge-offs on credit card loans. ... Read full article
Una Fox will be in charge of using AI and other data-driven technology to figure out what customers want from digital banking and how they want it. ... Read full article
CEO Greg Carmichael says the Cincinnati bank will hire bankers in Denver, Dallas and Houston as part of a broader expansion into fast-growing markets that are home to lots of midsize firms. It is also interested in buying more fee-based businesses. ... Read full article
For thousands of government employees, credit card bills are coming due for travel and other expenses they incurred before the shutdown. ... Read full article
The shutdown is keeping the agency from approving about 300 loans per day, according to CBA President Richard Hunt. ... Read full article
Timothy Mayopoulos is back in the mortgage industry, becoming the new president of the digital mortgage technology developer Blend, months after leaving his post as Fannie Mae’s CEO. ... Read full article
Bank of America Chief Executive Officer Brian Moynihan predicted another round of consolidation in the U.S. that could lead to the emergence of a new competitor. ... Read full article
The low-cost deposits it gained in its purchase of 52 Wells Fargo branches, combined with higher interest rates, lifted Flagstar's net interest margin. ... Read full article
"I don't and I never would discount the European banks," Citigroup Chief Executive Officer Michael Corbat said in an interview at the World Economic Forum in Davos. "Don't overestimate the U.S. banks' position, and don't ... Read full article
The industrial loan company charter is getting more attention as doubts grow about a new federal license for fintechs. ... Read full article
Fintechs are developing data-crunching, automated products that seek to help banks precisely calibrate capital levels. The banks' goal is to pass stress tests while maximizing returns to investors. ... Read full article
CFPB to scrap key underwriting portion of payday rule; Fiserv-First Data — why small banks fear big fintech; banks, credit unions help federal workers hurt by shutdown; and more from this week's most-read stories. ... Read full article
Loan demand is finally picking up after several lackluster quarters. Banks' big challenge is finding cheap deposits to fund all those new loans. ... Read full article
Fannie Mae and Freddie Mac shares soared Friday amid fresh reports that the Trump administration is working on proposal that would recommend freeing the mortgage-finance giants from government control. ... Read full article
The South Carolina Republican will take over for Sen. Pat Toomey, R-Pa., as part of a reshuffling of subcommittee assignments. ... Read full article