A lawsuit alleging Wells Fargo improperly compensated its California-based mortgage loan officers could have broader ramifications now that it has been granted class certification.
“The board's record of summarily approving mergers raises doubts about whether it will serve as a meaningful check on this consolidation that creates a new too big to fail bank,” Sen. Elizabeth Warren said in a letter to the Fed.
SunTrust’s merger with BB&T is the largest bank deal since the financial crisis, and mortgages will play a critical role in the execution of this transaction.
The three large banks banks are joining a number of institutions in agreeing to eliminate fees for Californians who receive benefits via electronic transfer cards. Chase and BofA will also waiving the fees nationwide.
The company’s investment in a small business lender is said to be the biggest ever in Europe; the merger may raise questions from regulators, spur more mergers.
Readers respond to the Consumer Financial Protection Bureau's overhaul of its payday loans rule, debate reforms to Fannie Mae and Freddie Mac, consider regulatory exemptions for regional banks and more.
The Senate Banking Committee will examine the nomination of Mark Calabria to oversee the regulator of Fannie Mae and Freddie Mac, as well as nominees for the NCUA board and Treasury.
The stars aligned for the two longtime rivals to join forces, and some observers speculate that other regional banks will need to strike similar partnerships if they hope to remain competitive. But others say such deals are rare because they're hard to pull off.
