In hundreds of cases, the prepaid card program run by the bank allegedly sent users’ funds to fraudsters who had stolen their data. The security lapse has now caught the attention of the Democratic senator.
The Federal Housing Administration is looking to streamline its single-family loan servicing requirements to align them with industry standards and upgrade outdated technology.
Bank of America is showing more interest in commercial real estate lending while other lenders are pulling back, executives said. But they also said that they learned their lesson from the financial crisis and will proceed cautiously.
The tech giants might be moving into small-business lending, but they’re more likely to take business away from large commercial lenders, not community institutions.
The Federal Housing Finance Agency, Fannie Mae and Freddie Mac have launched an online clearinghouse with resources to assist lenders in serving borrowers with limited English proficiency.
What the bank is doing differently with its personal financial management tools could be instructive to the many institutions that haven’t gained much traction with similar offerings.
