FHA premium cut would make homes less affordable, not more
The agency should resist renewed calls to lower insurance premiums. Doing so would increase demand and raise home prices, negating any proposed benefits. ... Read full article
The agency should resist renewed calls to lower insurance premiums. Doing so would increase demand and raise home prices, negating any proposed benefits. ... Read full article
The clock starts ticking this week on a busy agenda of financial services priorities on Capitol Hill, including passing reforms to Dodd-Frank, overhauling the housing finance system and confirming key regulators. ... Read full article
As a bipartisan regulatory relief bill approaches the finish line in the Senate, the House has stood relatively on the sidelines. But no one expects the lower chamber to just rubber-stamp the deal. ... Read full article
JPMorgan Chase said Friday that its female employees earn 99% of what male employees make globally, but women remain underrepresented at senior levels and it hinted the unadjusted numbers it will report soon in the U.K. will be less flattering. ... Read full article
The war of words between acting Consumer Financial Protection Bureau Director Mick Mulvaney and Sen. Elizabeth Warren, D-Mass., the agency's architect, is escalating. ... Read full article
Stephen Calk is in the national media glare because his small Chicago-based bank made two enormous loans to Paul Manafort, President Trump's onetime campaign manager and a key figure in the investigation into Russian meddling in the 2016 election. ... Read full article
Relying on data such as income, location and spending habits, bank apps are delivering customized financial advice and tips relevant to the consumer, such as details about local events. ... Read full article
The North Carolina bank is the latest regional to experience a widespread outage. ... Read full article
It’s unlikely a new chapter of the bankruptcy code for banks would be used in times of crisis or strengthen market discipline. ... Read full article
Banks may start paying special dividends now that capital levels have improved. ... Read full article
Citigroup Inc., one of the world’s largest credit card issuers, said it will refund $335 million to U.S. customers whose annual percentage rate should have been lower. ... Read full article
Facing pressure to act on gun control laws, the Omaha bank said it would not "renew its contract with the National Rifle Association to issue the NRA Visa card." ... Read full article
Some Wells Fargo customers on social media Thursday afternoon expressed frustration with not being able to log in to accounts digitally. The San Francisco bank responded in a tweet acknowledging the problem. ... Read full article
In Zelle’s national advertising campaign, the bank-run P-to-P network spotlights consumers paying a personal trainer, a babysitter and a neighbor. It sets an expectation that Zelle can be used like a credit card, and scammers have figured out how to ... Read full article
Financial services groups are calling for more funding for the Internal Revenue Service that could fix flaws in the agency's system for verifying the income of mortgage applicants. ... Read full article
The bank will allow its customers to apply for car financing online and receive a decision within minutes. ... Read full article
Commenting on the consumer bureau’s enforcement practices as part of a CFPB review could help shape regulatory reforms, but it could also draw attention to a firm’s run-in with the agency. ... Read full article
William Parsley was most recently PNC's chief investment officer and treasurer and had previously served as head of consumer lending. ... Read full article
Canadian Imperial Bank of Commerce’s push to be less domestically focused is showing signs of success, thanks to its June takeover of Chicago-based PrivateBank. ... Read full article
At the U.K. investment bank, women earn 26% less than men and receive bonuses that are 60% lower, according to the lender’s annual report. Overall, it pays women just under half as much as male colleagues. ... Read full article