The number of new checking accounts at the embattled Wells Fargo fell by double digits year over year, and account closures remained brisk. Yet the figures on credit card applications were worse.
Freddie Mac is ramping up its use of credit risk transfers, completing $215 billion in single-family transfers last year, up to $600 billion since 2013.
Bank of America awarded Chief Executive Officer Brian T. Moynihan $20 million for his work last year, raising his compensation 25 percent.
Fannie Mae said it earned $5 billion in the fourth quarter, doubling its profits from a year earlier with a big boost from gains on derivatives the company uses to hedge risk.
The Consumer Financial Protection Bureau's temporary legal victory on Thursday has lowered the odds that President Trump will seek to remove the agency's director, Richard Cordray, despite repeated calls by prominent Republicans for his ouster.
The Chicago Federal Home Loan Bank experienced a significant jump in mortgage originations in 2016 due to a "re-introduction" of its traditional Mortgage Partnership Finance loan product.
Activists are pressuring banks involved in financing the controversial Dakota Access pipeline to abandon the project by threatening to withdraw their money and sever business ties. Can that tactic change how banks approach lending – and what does it mean for banking if it can?
The mortgage servicer will pay at least $25 million in cash and provide some $200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation's largest state.
Michael Corbat is getting a pay cut for a year when Citigroup's profit fell 14% and return on assets failed to meet his 2016 target.
Fear Of Failure To List Creditors There is a fear that many chapter 7 debtors have with regard to failing to properly list creditors. The bankruptcy code provides that creditors be given due process with regard to the bankruptcy filing. This means that creditors must be given notice of the bankruptcy so that they have+ Read More
The post Chapter 7 Debtor Brings Motion To Reopen In Aurora appeared first on David M. Siegel.
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The Clearing House asks Fincen to do more to fight AML; two federal courts side with consumer agency in separate cases, including question about its constitutionality
The deal comes months after First Merchants bought a minority stake in Independent Alliance.
West Town will pay $24.6 million in cash and stock for Sound Banking. The deal will close later this year.
If policymakers put empirical evidence ahead of ideology, the executive order is an opportunity to build on post-crisis improvements and address unintended consequences of reforms.
Chatter about bank-nonbank combinations pops up frequently, as it did in a low-profile way this week, but there are reasons you should be skeptical even in these anything-could-happen times.
The Federal Trade Commission is looking at whether auto finance companies that use sophisticated technology like ignition kill switches are illegally harassing subprime borrowers that have fallen behind on their payments.
The EMV migration has caused fraud to migrate to other channels. Issuers can make consumers aware of this threat and give them a handful of steps to spot trouble.
Many bank overdraft-related practices favor profits over customer financial health, but those practices are driven in part by lost revenue from an ill-advised Dodd-Frank Act provision.
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
That old adage that “things are never as they seem” aptly describes the current situation with student loan servicers. As reported by the New York Post, servicers like Navient—the largest student-loan servicer in the U.S.— are only making the student debt crises even worse.
Here’s how the process goes for many borrowers:
The problem? Your student-loan servicer may not be looking out for you. Servicers know they are set to make far more money with certain types of income-driven repayment programs, which cost the borrower far more in the long term.
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