Early glimpse of banks' 1Q isn't exactly pretty

03/06/18

Deposit prices are starting to rise, deposit growth is slowing, commercial loan growth remains tepid (with some exceptions) and concerns are mounting about the economic toll of U.S. trade policy, bank executives said just a few weeks ahead of the end of the quarter.

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Agency proposes giving FHLBs more latitude on affordable housing funds

03/06/18

The Federal Home Loan banks could "design and implement" their own system for deciding how to allocate resources for affordable housing initiatives under the proposal by the Federal Housing Finance Agency.

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Citi developing digital-only bank, CFO says

03/06/18

Citigroup plans to launch an online bank that will be marketed nationally. It is one of several large companies with an online bank or niche platform in operation or on the drawing board.

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Banks want in on tax reform plan to spur investment in distressed areas

03/06/18

Banking and affordable housing advocates are encouraged by a provision in the tax reform legislation that could increase investment in underserved communities by allowing investors to defer capital gains taxes when they reinvest in federally chartered Opportunity Funds.

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How immigrants are driving digital transformation of U.S. remittances

03/06/18

WorldRemit's ambitious goals for its U.S. payment operations say a lot about how immigrants here are changing as customers — they’re digitally savvy, connected and mobile-ready.

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U.S. Bancorp expects regulatory order to be lifted by end of year

03/06/18

The Minneapolis bank has been operating since October 2015 under a consent agreement that stemmed from deficiencies in its efforts to combat money laundering.

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RBC chief warns foreigners using Canadian homes as piggy banks

03/06/18

Foreign inflows are distorting Canada's already constrained housing market and aren't the kind of investment the country needs, the chief executive officer of Royal Bank of Canada said.

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FHA lenders warming up to reverse mortgages for new home purchases

03/06/18

Recent developments in the Federal Housing Administration's Home Equity Conversion Mortgage program are making it easier for lenders to originate reverse mortgages to borrowers who want to buy a new-construction home.

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New consortium to tackle the problem of risky fintech innovations

03/06/18

The World Economic Forum announced on Tuesday an effort designed to strengthen fintech cybersecurity.

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Wells Fargo pushed by nuns to address ethical lapses

03/06/18

Wells Fargo agreed to publicly report on the root causes that led to a rash of ethical lapses in recent years, a group of investors, led by the Interfaith Center on Corporate Responsibility, said.

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