Readers weigh in on the possibility of Mick Mulvaney becoming the White House chief of staff, debate whether the industry needs more or less consolidation, chime in on Wells Fargo’s updated mobile app and more.
While small and regional banks are pushing for a rollback of the Dodd-Frank Act, big banks are largely supportive of the 2010 financial reform law, Bank of America CEO Brian Moynihan said Thursday.
Banco Santander joined existing investors JPMorgan and USAA as well as others in raising $25 million in secondary-round financing for Roostify, which seeks to build a paperless mortgage process.
Freddie Mac posted a fourth-quarter net loss of $3.3 billion and will request $312 million from the Treasury after recent tax reform legislation forced it to write down the value of deferred tax assets.
Despite a legislative push by some senators and other stakeholders to jump-start housing finance reform, efforts to form consensus over a bill once again are stuck in neutral.
The Pew Charitable Trusts has released a set of 10 standards for banks and credit unions that want to to offer small loans to subprime customers. Among its ideas: keep monthly payments at or below 5% of the borrower’s paycheck and make loans available quickly through digital channels.
U.S. Bancorp. has agreed to pay $613 million in penalties to state and federal authorities for violations of the Bank Secrecy Act and a faulty anti-money-laundering program.
As U.S. banks were tallying up the billions of dollars in extra profits they'll reap from the sweeping tax cuts signed into law by President Donald Trump, they were quietly delivering unwelcome news to local governments: The interest rates on their loans were about to go up.
