CFPB claims challenged; HSBC FX trader convicted
Treasury contests agency’s claims that ban on mandatory arbitration benefits consumers; former head of FX trading used client information to profit the bank. ... Read full article
Treasury contests agency’s claims that ban on mandatory arbitration benefits consumers; former head of FX trading used client information to profit the bank. ... Read full article
The Salt Lake City bank reported strong 3Q results despite unexpected expenses tied to hurricane damage in its Texas market, and it vowed to stay on track in meeting its cost-savings goals. ... Read full article
Steve Wozniak indicated that he'd like to see the Silicon Valley behemoth continue to partner with banks, rather than applying for its own charter. ... Read full article
Federal Housing Finance Agency Director Mel Watt said the agency is poised to examine alternatives to how a Fannie Mae and Freddie Mac assess creditworthiness of home buyers, including seeking public comment on the issue later this fall. ... Read full article
Ben Carson doesn't want big banks to worry so much about being penalized from mortgage lending errors. ... Read full article
British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation. ... Read full article
With days ticking down for lawmakers to overturn the Consumer Financial Protection Bureau rule, some are now questioning the statistics used to challenge the bureau’s data. ... Read full article
The Treasury Department released an 18-page report saying the rule would “impose extraordinary costs” including legal fees mostly for lawyers that bring class-action lawsuits. ... Read full article
The Consumer Financial Protection Bureau made it clear that consumers own their financial data and can share it with apps of their choice. Now it’s up to the industry to resolve thorny issues on liability and accountability. ... Read full article
Bank fires four forex traders, while the OCC slams its auto lending practices; United wants to renegotiate its co-branded credit card agreement with JPM. ... Read full article
The ongoing bull market produced more fee income, interest income and new business at the Boston custody bank, which reported a 9% gain in revenue. ... Read full article
The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of ... Read full article
Trading on Friday afternoon pushed the cryptocurrency's market capitalization above $100 billion for the first time ever. ... Read full article
Flush with capital and facing stiff competition for customers, many regional banks appear to be mulling acquisitions to accelerate growth. ... Read full article
Equifax continues work to add new security features and restore full access to The Work Number following a report highlighting potential security vulnerabilities in a browser-based portal of its employment verification service. ... Read full article
Some housing groups are warming to an idea that they say could help more Americans benefit from housing-related subsidies than the mortgage interest deduction. ... Read full article
SunTrust’s yields have improved as it has increased its credit-card and student lending and made more online personal loans through its LightStream subsidiary. ... Read full article
The store-branded credit card issuer reported that more borrowers fell behind on their payments in the third quarter. Still, net earnings were stronger than expected. ... Read full article
The Providence, R.I., company surpassed its goal for return on tangible common equity that it had set for itself after its initial public offering. ... Read full article
Stash is the latest young fintech to pair debit and savings products with financial advice as it competes for millennial clients. ... Read full article