Jack Remondi issued a direct call Wednesday for the agency to drop its lawsuit against the student loan servicer. “You’ve had five years to look for your evidence, you’ve found none,” he said. ... Read full article
Rep. Maxine Waters said fixing Fannie Mae and Freddie Mac would top her list of priorities if Democrats take control of the House in this year's midterm elections and she becomes leader of the Financial Services Committee next year. ... Read full article
With the program set to expire July 31, the House bill will have to be reconciled with Senate legislation that includes a longer extension. ... Read full article
The bank sees its global reach as an advantage in supporting evolving business customer needs. ... Read full article
In addition to leading the company’s national business banking efforts, Peter Sefzik will also oversee small-business banking. Brian Foley, the chief credit officer for the Texas market, will succeed him as market president. ... Read full article
As the company boosts originations to subprime and other borrowers, it remains to be seen if the improvements in asset quality will continue. A similar question mark is hanging over many consumer lenders these days. ... Read full article
The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions. ... Read full article
An uptick in fines and a new tactic to counter claims about the CFPB’s authority is in sharp contrast to the agency’s rhetoric. ... Read full article
Allied Progress, a consumer watchdog, sued the CFPB and the OMB on Wednesday for failing to respond to a request for documents on Kathy Kraninger, President Trump's nominee to lead the CFPB. ... Read full article
Vipin Gupta, who was chief information officer at Key Community Bank, will oversee strategy for information technology at Toyota Financial Services. ... Read full article
Prosperity Bancshares in Houston said that its earnings increased 19% from a year earlier as its efficiency ratio rose. ... Read full article
That improvement and loan growth made up for a lower margin in a more profitable second quarter, but the loan growth relied heavily on the subprime lender's partnership with Fiat Chrysler that could be ending. ... Read full article
The digital currency’s price has rebounded to over $8,000 as a new ETF is in the works; three deals may indicate a resurgence of small bank M&A. ... Read full article
Elizabeth Warren, Sheila Bair and other regulatory hawks at a D.C. event hailed the reforms enacted in the wake of the 2008 crisis. ... Read full article
Lawmakers approved legislation to enable coordination between state and federal regulators on examining banks' third-party vendor relationships. ... Read full article
The creation of the Consumer Financial Protection Bureau was widely expected to centralize regulation of payday and other high-cost loans in Washington. It hasn’t worked out that way. ... Read full article
The OCC has terminated a 22-month-old consent order that stemmed from allegations that the bank unlawfully repossessed cars of members of the U.S. military. ... Read full article
BankUnited in Miami Lakes, Fla., said that second-quarter earnings rose 36% as average loan and investment securities balances increased. ... Read full article
Several firms are touting tools to help financial institutions bank legal marijuana-related businesses, an industry expected to yield $10 billion in retail sales this year. ... Read full article
With just two partnerships, eBay is cutting off a big opportunity for community banks. ... Read full article
