CIT agrees to sell $900 million reverse-mortgage portfolio
The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines. ... Read full article
The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines. ... Read full article
A who’s who of banking industry executives turned out for the annual celebration of the Most Powerful Women. Pam Joseph won’t be the next CEO of TSYS after all, but Jamie Dimon seems to be setting JPMorgan Chase up for a female CEO. Does Marianne Lake have ... Read full article
Want a strong team? This is what Mary Navarro said she has learned about creating one in her 42-year banking career. Navarro, who recently retired from Huntington, accepted a Lifetime Achievement award at the Most Powerful Women in Banking gala Thursday ... Read full article
The Treasury Department is expanding its calls for overhauling regulation of the financial services sector, this time focusing on changes to the most significant rules surrounding securitization and derivatives. ... Read full article
Facing persistently low loan yields, increased competition and higher regulatory costs, many community banks are at risk of becoming irrelevant unless they rethink their business models. ... Read full article
The $30 million acquisition has hit a snag over problems with Franklin’s commercial real estate portfolio. ... Read full article
A change in the formula that banks use to calculate borrowers’ debt-to-income ratios, announced by Fannie Mae in April, appears to be spurring more lending. ... Read full article
For all the anticipation that preceded the Consumer Financial Protection Bureau's final small-dollar lending rule, a picture of how the rule will affect banks and credit unions is still quite hazy. ... Read full article
Executives from across the industry celebrated gender diversity Thursday evening at American Banker’s Most Powerful Women in Banking and Finance dinner in New York. ... Read full article
Mary Callahan Erdoes, CEO, J.P. Morgan Asset Management and American Banker’s Most Powerful Woman in Finance, shared a funny story about her kids and her boss, Jamie Dimon, at the Most Powerful Women in Banking dinner. ... Read full article
The company, which is still recovering from two recent hurricanes, said it will voluntary comply with several key restrictions that were in the 2010 written agreement. ... Read full article
The loan product, which allows consumers retroactively to adjust a payment amount, illustrates how community-based institutions are trying to reach technologically savvy consumers. ... Read full article
Cathy Bessant, the winner of American Banker's most powerful woman in banking, talks about the "nobility" of banking and how the business helps to change people's lives. ... Read full article
JPMorgan's Mary Callahan Erdoes outlines the secret to motivating employees that she learned from businessman Jack Ma. ... Read full article
The big four core vendors have had little incentive to innovate in recent years. But newer competition will force them to update their technology if they wish to survive the digital age. ... Read full article
Linda Verba, head of service strategy at TD Bank and winner of a lifetime achievement award at the Most Powerful Women in Banking dinner Thursday, said that diversity can not just be a buzzword. ... Read full article
It's a question many banks are already confronting head-on as they implement new technologies designed to make compliance easier. ... Read full article
Acting Comptroller of the Currency Keith Noreika on Thursday called for steps to ease the asset thresholds that determine whether banks are subject to certain provisions of the Dodd-Frank Act. ... Read full article
The world of short-term lending was shaken up Thursday as one regulator issued a rule cracking down on payday loans while another made it easier for banks to offer an alternative product. ... Read full article
Wells Fargo's home state of California passed a law aimed at curtailing the bank's use of closed-door arbitration to shroud complaints from aggrieved customers affected by its scandals. ... Read full article