Senate confirms HUD nominees, but not Montgomery for FHA

12/22/17

Sen. Elizabeth Warren, D-Mass., and four other Democrats on the Senate Banking Committee are insisting on a recorded vote by the full Senate for the nomination of Brian Montgomery as Federal Housing Administration commissioner.

[more]

Top banks' mortgage performance unchanged in 3Q: OCC

12/22/17

The seven largest national banks held less than 5% of loans that were delinquent at the end of the third quarter, the Office of the Comptroller of the Currency said Friday.

[more]

More banks spreading the wealth after Trump signs tax bill

12/22/17

Bank of America, PNC join a growing list of banks planning to use the anticipated savings from the reduction in the corporate tax rate to boost wages for employees.

[more]

Judge casts doubt on CFPB deputy's claim to head agency

12/22/17

A federal judge appeared to be leaning toward siding with President Trump during oral arguments Friday in a case in which Consumer Financial Protection Bureau Deputy Director Leandra English is challenging the president's ability to appoint Mick Mulvaney as acting director.

[more]

Chasing rewards: Credit card use accelerates as debit slows

12/22/17

Both in dollar and transaction volume, credit card use is growing at a faster pace than debit use. Much of the growth is coming from affluent consumers who value rewards like 2% cash back on purchases.

[more]

CIT's Alemany and JPM's O’Connor end the year on a high note

12/22/17

It was a good year for CIT’s Ellen Alemany and JPM’s Sandie O’Connor, but Arjuna Capital’s Natasha Lamb hopes next year will be better. Mary Mack gets a bigger role at Wells Fargo, and Zoe Cruz gets a new one at Ripple. Plus, is Harvey Weinstein really Meryl Streep’s fault?

[more]

Card networks must give banks, merchants a vote on fraud prevention

12/22/17

Companies like Visa and Mastercard make decisions about security in secrecy, without enough input from banks and merchants.

[more]

UBS ordered to pay $903,000 for firing mortgage market analyst

12/22/17

Former top commercial mortgage-backed securities strategist Trevor Murray accused the Swiss lender of illegally firing him in 2012 for blowing the whistle on attempts by traders to influence his research reports.

[more]

Swiss regulator slams JPM; Fannie, Freddie get a boost

12/22/17

Bank allegedly “seriously breached” anti-money laundering rules; mortgage agencies will be permitted to retain $3 billion capital buffer.

[more]

‘Financial reports must have been fictional’: Comments of the week

12/21/17

Readers sound off on Mick Mulvaney’s plan to hire political appointees at the Consumer Financial Protection Bureau, question what’s behind the failure of Washington Federal Bank for Savings in Chicago, react to an argument that Equifax must endure, and more.

[more]