A number of banks, especially those with extra real estate on their hands, are trying to capitalize on the co-working craze to appeal to fledgling companies that could become success stories — and their customers.
The IRS has taken corrective actions to speed up its income verification system, avoiding a possibly crippling slowdown for the mortgage industry, but long-term issues remain.
The alternative credit scoring model VantageScore would not increase access to credit, says Joe Smith, the former monitor for the 2012 national mortgage settlement.
A key part of Well Fargo's Camels score was reduced, reflecting concerns about its management; Morgan Stanley, Deutsche Bank join the list of banks taking writedowns for deferred-tax assets.
The Dodd-Frank Act gets more attention when it comes to regulatory burden, but the Bank Secrecy Act and other anti-laundering statutes arguably present even more of a compliance challenge for bankers.
Dueling blockchain stories — one arguing it was virtually useless, the other saying it could change real estate lending — seized the top spots this week, while readers also focused on tax reform aftermath and a key Senate retirement.
Consumer Financial Protection Bureau complaints dropped last year for most of the big banks, including Wells Fargo, though they rose sharply at Capital One.
Banks have been in full cost-cutting mode in recent years, but with profits expected to increase substantially as a result of tax reform, all analysts and investors want to know is how they plan to spend their tax savings.
The proposal lays out principles in three critical areas: the effectiveness of senior management, handling of the firm’s business line and the independent risk management structures within a banking organization.
