The Tennessee bank said it has bought Professional Mortgage in Greenville, S.C., which services about $1.1 billion of commercial mortgage loans for 23 correspondent life company lenders.
Efforts to make it easier for smaller businesses to apply for SBA loans, coupled by concerted expansion efforts among key regional and community banks, contributed to the third consecutive record for 7(a) lending.
The Independent Community Bankers of America is formally opposing a bank charter application by payments processor Square, accusing it of trying to “avoid” certain “legal prohibitions and restrictions.”
Diane Schumaker-Krieg has traveled the globe urging stressed Wells Fargo colleagues to carve out time for art, exercise and other rejuvenating activities. She says happiness correlates to career success.
The payday lending industry is planning to use the same playbook employed by the financial services industry in its fight against the CFPB's arbitration rule.
The Federal Deposit Insurance Corp.'s No. 2 said deposit insurance helps prevent bank runs, but can also make banks more prone to taking on risk that can cost the public.
The tech giant won praise from consumer groups for its decision to ban ads for high-cost consumer loans. But the policy contains a big loophole, and advertisers have found multiple ways to exploit it.
The Consumer Financial Protection Bureau was created in part to ensure that nonbanks are subject to federal oversight, but the fact is that 99% of banks are exempt from CFPB supervision.
