Following its acquisition last November of Capital Bank in North Carolina, First Horizon will fund mortgage and small-business lending in low-income areas of the Southeast and expand its vendor relationships with minority-owned firms.
The acting head of the Consumer Financial Protection Bureau said he is “pleasantly surprised” with most personnel but raised concerns about those who lean toward the regulatory philosophy of Sen. Elizabeth Warren.
The lawsuit, filed in the U.S. District Court for the Western District of Texas, alleges that the CFPB rule is "arbitrary, capricious, and unsupported by substantial evidence."
The self-regulatory body says working with data aggregators increases risk of cyber fraud, unauthorized transactions and identity theft. But aggregators say other links in the information chain are more vulnerable.
Bank regulators have not even proposed a plan yet for revamping the Community Reinvestment Act, but stakeholders likely to weigh in on the plan are already establishing battle lines.
According to the Reuters report, which cited unnamed sources, acting CFPB Director Mick Mulvaney is seeking a settlement with Wells over claims related to force-placed auto insurance and improper mortgage fees.
Comptroller of the Currency Joseph Otting laid out an ambitious regulatory reform agenda Monday, telling a group of community bankers that he is committed to CRA upgrades, new flexibility in BSA compliance and other measures.
The appointment of Christian Sewing as Deutsche Bank's chief executive officer to replace an embattled John Cryan after less than three years — and three turnaround plans — answered just one of the questions hanging over the struggling institution.
