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CFPB Report Shows Wells Fargo Charged Students Three Times More than Other Banks

Wells Fargo

Wells Fargo in trouble again, again, and again

16 hours 36 min ago

Mark Sander, who has been with the company since 2011, succeeded Michael Schudder, who remains chairman and CEO.

Read More from: BankThink

1 day 12 hours ago

Policymakers should not let mortgage REITs, hedge funds and other firms gain membership through captive insurance companies.

Read More from: BankThink

1 day 12 hours ago

In letters to the Treasury secretary and CEOs of the largest banks, the Massachusetts Democrat questioned why Mnuchin was trying to quell liquidity fears that had not previously been mentioned by regulators.

Read More from: BankThink

1 day 12 hours ago

Citi is the first to share its unadjusted pay gap and lays out its goals for improvement. Bankers will be getting to know the progressive female freshmen who are storming D.C. a lot better. Plus, lots of fintech people moves and Gillette's take on toxic masculinity.

Read More from: BankThink

1 day 12 hours ago

The South Carolina Republican will take over for Sen. Pat Toomey, R-Pa., as part of a reshuffling of subcommittee assignments.

Read More from: BankThink

1 day 12 hours ago

Strong demand for commercial loans helped offset weaker growth in consumer lending and a decline in fee income.

Read More from: BankThink

1 day 12 hours ago

The company has filed a request with a federal judge in Pennsylvania for a summary judgment in two counts against it, accusing the bureau of failing to provide evidence.

Read More from: BankThink

1 day 12 hours ago

The Texas bank disclosed that James Dreibelbis, a longtime Woodforest executive, succeeded Nash as president and CEO in late December.

Read More from: BankThink

1 day 12 hours ago

The Tennessee company is pleased with loan growth. It has also been able to reduce its dependence on brokered deposits as it brings in new customers following its purchase of Capital Bank.

Read More from: BankThink

1 day 12 hours ago

CFPB to scrap key underwriting portion of payday rule; Fiserv-First Data — why small banks fear big fintech; banks, credit unions help federal workers hurt by shutdown; and more from this week's most-read stories.

Read More from: BankThink

1 day 12 hours ago

Loan demand is finally picking up after several lackluster quarters. Banks' big challenge is finding cheap deposits to fund all those new loans.

Read More from: BankThink

1 day 12 hours ago

Fannie Mae and Freddie Mac shares soared Friday amid fresh reports that the Trump administration is working on proposal that would recommend freeing the mortgage-finance giants from government control.

Read More from: BankThink

1 day 12 hours ago

The recently released Department of Justice (“DOJ”) opinion (“DOJ Opinion”) concluding that the Wire Act prohibits both sports and non-sports related Internet betting and wagering, leaves the industry with the burning question of “what about intrastate Internet gambling?”  On its face, the Wire Act prohibits using a wire communication facility for the transmission in “interstate or foreign commerce” of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest, or for the transmission of a wire communication which entitles the recipient to receive money or credit as a result of such wagers, for information assisting in the placing of bets or wagers.  In its analysis the DOJ Opinion applies the modifier of interstate or foreign commerce to all four prohibited types of transmissions.

So, what’s the problem?  Doesn’t that mean that this DOJ Opinion only prohibits interstate Internet gambling?  Maybe.  But the answer may not be so simple.

1 day 15 hours ago

filing bankruptcySpend money to go broke?

Seems counter-intuitive, but it could be the best money you spend.

People in serious debt resist using bankruptcy to get their financial life in order for many reasons, including

  • fear,
  • pride,
  • uncertainty,
  • stubbornness,
  • distraction, and
  • cash flow.

Yet, as a means of regaining control of your life and your pocketbook,  bankruptcy may be the best move you can make.

Inaction, however unpleasant the current situation,  may seem easy. It’s familiar and tolerable. It feels like a safe choice.

You can’t get more hurt by doing nothing, right?

It’s the devil you know, as opposed to the devil you don’t.

Read More from: The Soap Box

1 day 23 hours ago

Readers react to Sen. Elizabeth Warren's investigation into former acting Consumer Financial Protection Bureau Director Mick Mulvaney's job talks, weigh Rep. Alexandria Ocasio-Cortez's potential impact on the Financial Services Committee, consider the future of cryptocurrency and more.

Read More from: BankThink

2 days 4 min ago

The acquisition of VAR Technology Finance bolsters the bank's efforts to expand into new areas of lending.

Read More from: BankThink

2 days 4 min ago

Credit union and bank executives say the federal work stoppage hasn’t hit business lines yet, but that could change if things drag on much longer.

Read More from: BankThink

2 days 4 min ago

The units that handle small business payments and the one for larger firms will be combined; survey shows U.K. consumers may shun loans.

Read More from: BankThink

2 days 4 min ago

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