Small businesses turning far more often to online lenders: Fed
The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders. ... Read full article
The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders. ... Read full article
While NCUA lawyers fielded questions about the possibility of redlining, a three-judge appeals panel showed skepticism about other elements of the ABA's arguments against changes to credit union membership rules ... Read full article
Bank of America's Brian Moynihan had a lot to brag about in discussing 1Q results but faced questions about what he would do if economic growth slows and rates hold steady for a prolonged period. Other bank chief executives have gotten, or will get, ... Read full article
Following the Federal Reserve Board, the FDIC signed off on proposed measures to ease resolution planning requirements and tailor supervisory standards for foreign banking companies operating in the U.S. ... Read full article
The administration’s move seems aimed at cutting down on regulation. But broader reviews by the White House under the Congressional Review Act could hinder rules the industry supports. ... Read full article
Congressional Democrats issued subpoenas to Deutsche Bank and other banks to obtain long-sought documents indicating whether foreign nations tried to influence U.S. politics. ... Read full article
The bureau should adopt a clear, consistent framework for determining civil money penalties against financial firms. ... Read full article
Adolfo Marzol, who has served as an adviser to HUD Secretary Ben Carson, will now report to the new director of the Federal Housing Finance Agency. ... Read full article
Citi, Goldman, BofA earnings rose despite flat revenues; benchmark would be based on rates set on the American Financial Exchange. ... Read full article
Net interest income at the bank's consumer unit rose nearly 10%. But first quarter could be the last hurrah for that catalyst at BofA and other banks as the Fed pauses its rate-tightening cycle. ... Read full article
KeyBank is deploying new technology designed to improve the online and mobile banking experience as well as guide the conversations branch employees are having with customers. The move comes on top of steps to modernize its IT infrastructure. ... Read full article
Despite consensus that regulators should ease so-called “living will” requirements by some degree, critics charge that a proposal by the Fed and FDIC could undo gains in making large banks easier to resolve. ... Read full article
The bank’s CFO says it has enough liquidity to meet loan demand in the short term, but how long can it keep its loan-to-deposit ratio below 100%? ... Read full article
Citigroup's return on tangible common equity rose in the first quarter, but stubbornly high expenses and costly technology investments may make it hard for the bank to hit its targets for this year and next. ... Read full article
The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to ... Read full article
The investment platform, which is in the early stages of development, will be part of Marcus, the consumer bank Goldman launched in 2016. ... Read full article
Derek White, an alumnus of BBVA and Barclays, will oversee digital innovation across all lines of business at the bank. ... Read full article
Last-minute arguments from the American Bankers Association have put the National Credit Union Administration on the back foot in advance of an appeal hearing more than a year in the works. ... Read full article
Allison Dukes says she will not be joining the combined company because she wants to remain in Atlanta, where she is involved with a number of civic and philanthropic organizations. The merged company will be headquartered in Charlotte, N.C. ... Read full article
The new head of the agency regulating Fannie Mae and Freddie Mac will be at the forefront of reforming the housing finance system. ... Read full article