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Updated: 4 min 52 sec ago

Banc of California plans corporate reform in wake of Sugarman departure

22 min 18 sec ago
The once high-flying company could also face higher legal costs tied to an SEC probe into recent disclosures.
Categories: BUSINESS NEWS

Beyond robo-compliance: How bots will soon permeate banking

1 hour 12 min ago
Banks are becoming more comfortable with robotic process automation and could use it overhaul everything from the payroll functions to advising customers.
Categories: BUSINESS NEWS

CFPB clearing decks with slew of lawsuits as Cordray battle looms

1 hour 12 min ago
The Consumer Financial Protection Bureau is ramping up enforcement actions ahead of a possible political showdown between President Donald J. Trump and the agency’s director, Richard Cordray.
Categories: BUSINESS NEWS

Index of Banking Activity: September IBA at 56.1

1 hour 32 min ago
Postpone the memorial service — the expansion is still alive. For one month at least, business conditions improved for the banking sector.
Categories: BUSINESS NEWS

CFPB orders Citi units to pay $28.8M for servicing flaws

1 hour 32 min ago
The Consumer Financial Protection Bureau ordered two units of Citigroup to pay a combined $28.8 million for failing to help borrowers with foreclosure relief.
Categories: BUSINESS NEWS

Old Point to take over control of mortgage joint venture

1 hour 48 min ago
The Virginia bank has agreed to buy Tidewater Mortgage’s majority stake in Old Point Mortgage.
Categories: BUSINESS NEWS

Credit card giants in a delicate balancing act of costs, rewards

2 hours 7 min ago
Credit card issuers usually reserve their richest rewards for customers at the higher end who are willing to pay steep annual fees. But a recent surge in credit card rewards deals targeting mainstream consumers signals a key strategy shift for issuers.
Categories: BUSINESS NEWS

Pinnacle to become small fish in the Carolinas with latest acquisition

2 hours 24 min ago
To succeed, the Tennessee company must build on momentum created by BNC, the bank it just agreed to buy.
Categories: BUSINESS NEWS

Index of Banking Activity: November IBA at 55.9

2 hours 42 min ago
The month of November could prove to be a turning point for banking as monthly activity indicators broadly improved, led by a sharp increase in loan pricing.
Categories: BUSINESS NEWS

HCBF agrees to buy Jefferson Bankshares in Florida

3 hours 4 min ago
HCBF, once an aggressive acquirer, hadn't announced a deal in nearly two years.
Categories: BUSINESS NEWS

Blue Gate Bank opens in Southern California

3 hours 21 min ago
The bank is among a handful of de novos to have its charter approved since 2009.
Categories: BUSINESS NEWS

Banks don't get what they pay for with digital advertising

4 hours 10 min ago
The ad tech industry is so fraught with misleading and deceptive data that it's difficult for marketers to make smart advertising choices. Even the most reputable of firms spew unreliable data.
Categories: BUSINESS NEWS

Strong state economy boosts Bank of Hawaii

5 hours 18 min ago
Expanded lending across a broad range of categories and extremely low unemployment in Hawaii pushed up the Honolulu bank's quarterly profit.
Categories: BUSINESS NEWS

Sugarman resigns from Banc of California as SEC probes recent disclosures

7 hours 21 min ago
The company also admitted that certain details in an October press release were inaccurate.4�9x�6
Categories: BUSINESS NEWS

Lloyds said to suffer cyberattack on U.K. systems

7 hours 21 min ago
Lloyds Banking Group was hit by a cyber attack that disrupted online services for customers two weeks ago, a person with knowledge of the matter said.
Categories: BUSINESS NEWS

Reforming CFPB isn't enough. Eliminate it.

8 hours 12 min ago
The Consumer Financial Protection Bureau is drunk on power. Let’s return the agency’s regulatory responsibilities to the states and those agencies covering the relevant industries.
Categories: BUSINESS NEWS

Trump adds to his finance team; Gorman gets a raise

9 hours 21 min ago
Several members of George W. Bush's second-term team are expected to get senior positions at Treasury; Gorman gets a 7% pay hike, while Goldman bonuses shrink.
Categories: BUSINESS NEWS

Pinnacle Financial to buy Bank of North Carolina parent

10 hours 12 min ago
The $1.9 billion deal – the largest announced in 2017 – will create a bank with nearly $20 billion in assets.
Categories: BUSINESS NEWS

Breaking Banks: Why bankers aren’t quite ready for Amazon Alexa

20 hours 24 min ago
Guest host Sam Maule chats with American Banker reporter Lalita Clozel and others about the OCC fintech charter, smart home devices, virtual assistants, the security and compliance issues posed by Alexa, and more.
Categories: BUSINESS NEWS

Trump issues 'regulatory freeze' in first hours of administration

Sat, 01/21/2017 - 22:08
The Trump administration late Friday called on all executive departments and agencies to freeze regulations to allow agency heads selected by the president to review pending rules.
Categories: BUSINESS NEWS

Court rules CFPB can investigate tribal payday lenders

Sat, 01/21/2017 - 00:34
Native American tribal lenders that market small-dollar and installment loans can be investigated by the Consumer Financial Protection Bureau, a California appeals court ruled Friday in a victory for the consumer agency.
Categories: BUSINESS NEWS

Growth in credit card balances boosts profit at Synchrony Financial

Sat, 01/21/2017 - 00:18
The Stamford, Conn., credit card issuer reported net income of $576 million, up 5.3% from the same period a year earlier.
Categories: BUSINESS NEWS

Bankers are getting ready for a Trump bump

Fri, 01/20/2017 - 23:58
Donald Trump was sworn in Friday, but banking industry executives have spent the last two months envisioning a vastly different political, economic and regulatory climate. The dominant question in coming months will be how realistic those expectations are.
Categories: BUSINESS NEWS

Fraud magnet

Fri, 01/20/2017 - 23:58
Western Union received more than half a million consumer fraud complaints between 2004 and 2015. Authorities said that a relatively small number of company agents handled a large share of the illegal transactions
Categories: BUSINESS NEWS

Money laundering enforcement: Lessons from the Western Union case

Fri, 01/20/2017 - 23:40
Documents filed in connection with a $586 million settlement reveal how certain agents for the global money transmitter enabled extensive fraud and money laundering.b
Categories: BUSINESS NEWS

Why Trump still faces an uphill climb to ease regulations

Fri, 01/20/2017 - 23:40
The financial services industry has high hopes that President Trump will usher in a new era of less regulation and economic growth. Here are challenges his administration will face.
Categories: BUSINESS NEWS

Fifth Third partners with VC firm for fintech guidance

Fri, 01/20/2017 - 20:50
The Cincinnati bank will be advised by QED Investors on its fintech strategy.
Categories: BUSINESS NEWS

FHA price cut officially halted moments after Trump sworn in

Fri, 01/20/2017 - 20:50
The Department of Housing and Urban Development announced Friday that the reduction in mortgage insurance premiums “has been suspended indefinitely.”
Categories: BUSINESS NEWS

Banks should slow down to get blockchain right

Fri, 01/20/2017 - 20:50
Bank consortium R3 CEV, one of the most well-funded blockchain working groups, has endured criticism for its meticulous process. But if blockchains are most valuable with a network effect, maybe forgoing some agility is worth the long while.
Categories: BUSINESS NEWS

B of A, Wells branches vandalized in D.C. before inauguration

Fri, 01/20/2017 - 20:05
Windows smashed, no injuries reported.
Categories: BUSINESS NEWS

Loan growth, rising yields boost profits at Citizens Financial

Fri, 01/20/2017 - 17:54
Citizens Financial Group in Providence, R.I., reported bigger profits in the fourth quarter on the strength of loan growth and improvements in its loan yield.
Categories: BUSINESS NEWS

As Trump takes power, fiduciary advocates renew defense of rule

Fri, 01/20/2017 - 17:54
"There is an added sense of urgency now," says Barbara Roper, director of investor protection at the Consumer Federation of America.
Categories: BUSINESS NEWS

As Trump takes power, fiduciary advocates renew defense of rule

Fri, 01/20/2017 - 17:34
"There is an added sense of urgency now," says Barbara Roper, director of investor protection at the Consumer Federation of America.
Categories: BUSINESS NEWS

Bankers count ways Trump will boost financial services

Fri, 01/20/2017 - 16:38
On earnings calls this week CEOs expressed optimism for increased loan demand, a softer tone from regulators, a higher SIFI threshold and, potentially, a surge of interest in health savings accounts.
Categories: BUSINESS NEWS

Carolina Financial to raise $44M in public offering

Fri, 01/20/2017 - 16:20
The South Carolina company plans to use proceeds for acquisitions and organic growth.
Categories: BUSINESS NEWS

Credit union loophole should be first casualty in tax reform

Fri, 01/20/2017 - 15:40
As President-elect Trump and the new Congress proceed on tax reform, there is one exemption in particular that needs to be closed, shut and buried.
Categories: BUSINESS NEWS

Cost Increases Tame Profits at SunTrust

Fri, 01/20/2017 - 15:00
Quarterly profit fell at SunTrust Banks in Atlanta as noninterest expense rose 8.4% and its loan-loss provision increased.
Categories: BUSINESS NEWS

Regions counters branch-closing costs with improved loan yields

Fri, 01/20/2017 - 15:00
Quarterly profit improved despite a spike in noninterest expenses.
Categories: BUSINESS NEWS

'Getting the chatbot to upsell': Comments of the week

Fri, 01/20/2017 - 14:40
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.
Categories: BUSINESS NEWS

Mnuchin on the Hill; FHA mortgage loan volume rises as risk grows

Fri, 01/20/2017 - 14:40
Treasury Secretary-designate Steven Mnuchin fended off questions about his past investments and foreclosure practices while discussing policy matters at his Senate confirmation hearing; FHA mortgage bond volume is starting to hit worrisome levels.
Categories: BUSINESS NEWS

New credit union battle brewing over alternative capital

Fri, 01/20/2017 - 02:31
Initial regulatory steps toward giving credit unions access to alternative sources of capital could add to bankers' concerns that their tax-advantaged rivals are expanding beyond their mission.
Categories: BUSINESS NEWS

Associated’s profits boosted by double-digit gain in fee income

Fri, 01/20/2017 - 00:50
Associated Banc-Corp in Green Bay, Wis., reported a sharp increase in profits on an 11% increase in noninterest income and on lower credit costs.
Categories: BUSINESS NEWS

JPMorgan boosts Dimon’s annual pay 3.7% to $28 million

Fri, 01/20/2017 - 00:50
JPMorgan Chase increased Chief Executive Jamie Dimon’s compensation by 3.7% for last year as the bank’s stock advanced 31%.
Categories: BUSINESS NEWS

Four takeaways from Mnuchin's Capitol Hill grilling

Fri, 01/20/2017 - 00:31
Treasury Secretary-designate Steven Mnuchin struck a pro-banking industry tone during testimony on Capitol Hill Thursday while tangling with lawmakers over foreclosures, offshore accounts and other issues."
Categories: BUSINESS NEWS

Small things make a big difference, mobile check deposit edition

Fri, 01/20/2017 - 00:12
Jim Van Dyke, CEO of futurion, discusses the correlations between mobile deposit features, the ratings of those features, and app adoption.
Categories: BUSINESS NEWS

Banks that normally like to buy tread carefully on M&A

Thu, 01/19/2017 - 23:54
CEOs at several regionals have decided to sit on the sidelines so they can digest recent big acquisitions, while others are contemplating going for more deals provided they find lower-risk opportunities.
Categories: BUSINESS NEWS

Business loans, mortgages fuel profit growth at People's United

Thu, 01/19/2017 - 23:54
The Connecticut bank said a spike in business lending and residential mortgages gave its fourth-quarter earnings a boost.
Categories: BUSINESS NEWS

American Express profit falls 8.2% as expenses exceed estimates

Thu, 01/19/2017 - 22:44
American Express Co., the largest U.S. credit-card issuer by purchases, said fourth-quarter profit fell 8.2 percent as expenses exceeded analysts’ estimates and the firm set aside more money to cover bad loans.
Categories: BUSINESS NEWS

TCF tricked customers about overdraft opt-ins, CFPB suit alleges

Thu, 01/19/2017 - 22:04
The Consumer Financial Protection Bureau on Thursday sued TCF National Bank for what the bureau said were deceptive and abusive practices in selling overdraft services.
Categories: BUSINESS NEWS

Mortgage banking, M&A fuel profits at Wintrust Financial

Thu, 01/19/2017 - 22:04
Fourth-quarter profits at Wintrust Financial in Rosemont, Ill., climbed 54% to $54.6 million from a year earlier, helped largely by acquisitions and increases in mortgage banking and other fee income.
Categories: BUSINESS NEWS

Western Union admits to money laundering, fraud crimes

Thu, 01/19/2017 - 21:30
The global money transmitter will pay $586 million and implement an anti-fraud program in order to resolve allegations that it enabled widespread misconduct by some of its employees.
Categories: BUSINESS NEWS

Treasury pick Mnuchin clarifies GSE stance: No 'recap and release'

Thu, 01/19/2017 - 21:10
In his confirmation hearing, Treasury Secretary-designate Steven Mnuchin said he wanted to work with both parties to find a “bipartisan fix” for the housing finance system.
Categories: BUSINESS NEWS

Women in banking: Pay equality trouble at JPMorgan; Maria Vullo slams OCC fintech charter

Thu, 01/19/2017 - 20:50
As JPMorgan Chase and Oracle face lawsuits from the Labor Department over their allegedly discriminatory pay practices, Sallie Krawcheck talks about how the key to closing the equality gap is financial equality, and U.S. Rep. Carolyn Maloney suggests the new administration make the gender pay gap a top priority. Also, Sen. Elizabeth Warren readies for war at Steven Mnuchin's confirmation hearing, Mary Jo White reflects on her time as SEC chair and New York Financial Services Superintendent Maria Vullo slams the OCC's fintech charter plan.
Categories: BUSINESS NEWS

Should customer analytics belong only to banks?

Thu, 01/19/2017 - 20:50
As artificial intelligence makes analytics better, the question of who gets to benefit from the intel will come up more. Fintech startup wallet.ai believes customers should be told of propensities that might be hurting them.
Categories: BUSINESS NEWS

Mortgage banking, M&A fuel profits at Wintrust Financial

Thu, 01/19/2017 - 20:32
Fourth-quarter profits at Wintrust Financial in Rosemont, Ill., climbed 65% to $54.6 million from a year earlier, helped largely by acquisitions and increases in mortgage banking and other fee income.
Categories: BUSINESS NEWS

Fifth Third acquires retirement advisory firm in Cincinnati

Thu, 01/19/2017 - 18:48
The $143 billion-asset company has agreed to buy the Retirement Corporation of America, an advisory firm based in Fifth Third’s headquarters city that focuses on the needs of retirees.
Categories: BUSINESS NEWS

M&T's profit rises on lower merger costs, higher CRE lending

Thu, 01/19/2017 - 18:48
Commercial real estate loan growth and the Hudson City acquisition fueled fourth-quarter profit growth at M&T Bank in Buffalo, N.Y.
Categories: BUSINESS NEWS

M&T's Wilmers joins billionaires club off bank stock rally

Thu, 01/19/2017 - 18:04
The rally in bank stocks since Donald Trump's surprise victory in November has minted a new billionaire banker ahead of Friday's inauguration: M&T Bank CEO Robert Wilmers.
Categories: BUSINESS NEWS

RBS said to mull multibillion-dollar charge over U.S. mortgages

Thu, 01/19/2017 - 17:44
Royal Bank of Scotland is considering taking a multi-billion dollar charge in the fourth quarter for a U.S. mortgage securities probe that would give an indication of the size of the full settlement.
Categories: BUSINESS NEWS

Signature posts healthy profit despite medallion-loan losses

Thu, 01/19/2017 - 17:26
The New York bank weathered headwinds in its taxi-medallion portfolio to post double-digit growth in earnings and net interest income during the fourth quarter.
Categories: BUSINESS NEWS

Record loan originations boost Webster’s 4Q profit

Thu, 01/19/2017 - 16:50
Strong growth in commercial and CRE lending also led record to interest income in the quarter.
Categories: BUSINESS NEWS

Regulators risk doing more harm than good with cyber rules

Thu, 01/19/2017 - 15:50
It should surprise no one that the cybersecurity rules regulators are drafting are simplistic and written in one size to fit all.
Categories: BUSINESS NEWS

Merger costs take bite out of KeyCorp’s 4Q Profit

Thu, 01/19/2017 - 15:10
The Cleveland company also had a record quarter for its investment banking business.
Categories: BUSINESS NEWS

Dismantling Dodd-Frank; Banks hurt, helped by automation

Thu, 01/19/2017 - 14:50
House Republicans charge CFPB director broke federal law in effort to fire him; consulting firms total the costs and savings from technology; German chemist finds the secret behind money's aroma.
Categories: BUSINESS NEWS

Business lending, acquisitions drive BB&T profit growth

Thu, 01/19/2017 - 14:34
Profit surged at BB&T in Winston-Salem, N.C., during the fourth quarter, driven by various acquisitions and growth in business lending.
Categories: BUSINESS NEWS

BNY Mellon’s profits surge 29% in 4Q on expense cuts, rate hike

Thu, 01/19/2017 - 13:38
A 9% increase in interest revenue helped to offset relatively flat growth in fee revenue.
Categories: BUSINESS NEWS

$100M in debt financing for Texas-based online lender

Thu, 01/19/2017 - 13:38
BorrowersFirst said its new financing will come from Waterfall Asset Management, a New York firm that focuses on high-yield investments.
Categories: BUSINESS NEWS

Fintech companies form lobbying group focused on data sharing

Thu, 01/19/2017 - 13:38
A consortium of fintech companies have formed a new industry group to advocate for better data sharing via open APIs.
Categories: BUSINESS NEWS

Credit Unions with the Largest Portfolios of Loans and Leases

Thu, 01/19/2017 - 03:25
On Sept. 30, 2016. Dollars in thousands.
Categories: BUSINESS NEWS

Credit Unions with the Most Deposits

Thu, 01/19/2017 - 02:50
On Sept. 30, 2016. Dollars in thousands.
Categories: BUSINESS NEWS

F.N.B. buoyed by organic loan growth, M&A

Thu, 01/19/2017 - 01:36
The Pittsburgh company was aided by high-single-digit organic loan growth in addition to an acquisition that was completed in February.
Categories: BUSINESS NEWS

Homeownership crucial for 'a stable democracy': departing Ginnie chief

Thu, 01/19/2017 - 01:18
In a candid, in-depth exit interview, Ted Tozer discusses Ginnie Mae's growth during his seven years at the agency's helm, the need for comprehensive housing finance reform, big banks' retreat from mortgages, counterparty risk management and more.
Categories: BUSINESS NEWS

Squaring privacy with ID checks and compliance on the blockchain

Thu, 01/19/2017 - 01:18
Justin Newton, founder and CEO of Netki, discusses the barriers to commercialization of bitcoin, how his startup is trying to solve the problem, why private blockchains are useful and why public ones will eventually become more valuable.
Categories: BUSINESS NEWS

Will rising rates + looser regs = mortgage excess? Possible, but doubtful

Thu, 01/19/2017 - 00:40
Rising interest rates typically cause lenders to relax underwriting guidelines. The incoming administration promises to deregulate. Sounds like a combustible mix, but there's ample room to loosen credit without returning to the practices that caused the crisis.
Categories: BUSINESS NEWS

CFPB suit against Navient followed apparent 'ultimatum'

Thu, 01/19/2017 - 00:05
The Consumer Financial Protection Bureau and two states on Wednesday sued the nation's largest student loan servicer, Navient, for allegedly systematic failures in processing loan payments and failing to enroll borrowers in less expensive repayment plans.
Categories: BUSINESS NEWS

End of an era: Citi CEO says 'restructuring is over'

Wed, 01/18/2017 - 23:46
Michael Corbat told analysts Tuesday that Citi will no longer report Citi Holdings, its erstwhile "bad bank," as a separate entity.
Categories: BUSINESS NEWS

SmartFinancial in Tenn. to conduct public offering

Wed, 01/18/2017 - 23:46
About $12 million of the proceeds will go toward exiting the Small Business Lending Fund.
Categories: BUSINESS NEWS

Riverview Financial in Pa. to sell $17M in stock

Wed, 01/18/2017 - 23:26
The company is selling common and preferred stock in a private placement.
Categories: BUSINESS NEWS

KleinBank in Minn. girds for fight over redlining claims

Wed, 01/18/2017 - 23:08
The Justice Department claims the bank, which has received “satisfactory” ratings in its last four CRA exams, is failing to serve minority neighborhoods around Minneapolis.
Categories: BUSINESS NEWS

Bear State Financial in Ark. promotes millennial as its new CEO

Wed, 01/18/2017 - 22:50
Matt Machen, who previously served as the company’s president, has been at Bear State since 2011.
Categories: BUSINESS NEWS

Spat between CFPB, GOP intensifies with auto lending report

Wed, 01/18/2017 - 22:30
A House Republican report, charging that Consumer Financial Protection Bureau Director Richard Cordray "may have broken the law" when the agency cracked down on auto lenders, appeared to escalate the GOP's clash with the agency.
Categories: BUSINESS NEWS

U.S. Bancorp CEO switch: 'Why now?' questions overshadow 'What's next'

Wed, 01/18/2017 - 22:10
Andy Cecere is the new CEO-in-waiting at the Minneapolis bank, but interest in his future plans took a back seat as investors and others tried to get their heads around why the current boss, Richard Davis, is choosing to leave seven years before the typical retirement age.
Categories: BUSINESS NEWS

OCC fintech charter tramples state rights: N.Y. superintendent

Wed, 01/18/2017 - 21:30
The head of the New York Department of Financial Services did not mince words Wednesday in criticizing a proposed federal fintech charter.
Categories: BUSINESS NEWS

Trump team said to plan delay of FHA premium cut

Wed, 01/18/2017 - 21:30
And the next HUD chief might eventually rescind it altogether.
Categories: BUSINESS NEWS

Dems will jab at Mnuchin, but will they land any punches?

Wed, 01/18/2017 - 21:14
Steven Mnuchin's time as OneWest CEO is expected to draw ample attention at his nomination hearing, but it will not be the only issue to come up as senators try to gauge how he would lead President-elect Trump's financial policies.
Categories: BUSINESS NEWS

TriState Capital in Pittsburgh adds banking vet to its board

Wed, 01/18/2017 - 20:55
Kim Ruth once served as a state president for Bank of America in Texas.
Categories: BUSINESS NEWS

CFPB sues student loan giant Navient

Wed, 01/18/2017 - 20:20
Navient Corp. was sued by a U.S. regulator over allegations that the student loan giant "systematically" cheated borrowers.
Categories: BUSINESS NEWS

Will Trump give banks a break on BSA? Don't bet on it

Wed, 01/18/2017 - 19:40
While the Trump administration could relax other bank regulations, it is unlikely that it would ease up when it comes to money-laundering compliance.
Categories: BUSINESS NEWS

Reinventing a 32-year-old multi-account card for the EMV era

Wed, 01/18/2017 - 19:40
Achieving the coveted “top of wallet” status is tough for banks, not least because their own credit and debit cards often compete with one another for priority status with the same customers.
Categories: BUSINESS NEWS

Renasant to buy Metropolitan BancGroup in Mississippi

Wed, 01/18/2017 - 19:20
The $190 million deal would push Renasant above the $10 billion-asset regulatory threshold.
Categories: BUSINESS NEWS

Credit Unions with the Most Assets

Wed, 01/18/2017 - 19:00
On Sept. 30, 2016. Dollars in thousands.
Categories: BUSINESS NEWS

A wish list for Trump's SBA

Wed, 01/18/2017 - 18:24
President Trump has nominated Linda McMahon, a co-founder of the World Wrestling Federation, to run the Small Business Administration for the next four years. If confirmed, McMahon, a Republican, will inherit an agency that has supported record loan volume lately, but that many bankers still view as too bureaucratic and inefficient. We asked bankers and small-business advocates what is working well at the SBA, what they would like to see improved, and what else the Trump administration could do to stimulate small-business growth. Here's what they had to say.
Categories: BUSINESS NEWS

Energy’s Rebound Bolsters Hancock’s 4Q Profit

Wed, 01/18/2017 - 17:22
An improving picture in the energy sector helped Hancock Holding in Gulfport, Miss., report a huge jump in fourth-quarter profit.
Categories: BUSINESS NEWS

Evans in N.Y. looks to raise $14M in public offering

Wed, 01/18/2017 - 17:02
The company has been producing solid loan growth in recent quarters.�@9@e
Categories: BUSINESS NEWS

JPMorgan Says It Has Settled U.S. Bias Suit Over Mortgages

Wed, 01/18/2017 - 17:02
JPMorgan Chase & Co. agreed to pay $55 million to settle U.S. allegations of racial discrimination in home loans through mortgage brokers, leading black and Hispanic borrowers to pay higher interest rates and fees from 2006 to 2009, a person familiar with the matter said.
Categories: BUSINESS NEWS

Northern Trust sees 4Q profit boost from higher rates

Wed, 01/18/2017 - 16:45
Northern Trust’s fourth-quarter profit surged due to higher trust fees, improved credit quality and the benefit accrued to its profit margin from an increase in short-term interest rates.
Categories: BUSINESS NEWS

How OCC’s fintech plan can make CRA relevant again

Wed, 01/18/2017 - 15:45
The Office of the Comptroller of the Currency could make the Community Reinvestment Act’s spirit relevant in a digital age so long as it builds the right framework for chartered fintech companies.
Categories: BUSINESS NEWS

Strong credit quality supports profit at Commerce in Kansas City

Wed, 01/18/2017 - 15:45
Commerce Bancshares in Kansas City, Mo., reported higher quarterly results that reflected great credit quality.
Categories: BUSINESS NEWS

U.S. Bancorp profits flat as expenses climb 7%

Wed, 01/18/2017 - 15:45
The Minneapolis company reported gains in lending and fee income, but merit-pay increases and compliance-related spending contributed to higher noninterest expenses.
Categories: BUSINESS NEWS

SmartFinancial in Tenn. to conduct an IPO

Wed, 01/18/2017 - 14:50
SmartFinancial in Knoxville, Tenn., is planning to conduct an initial public offering.
Categories: BUSINESS NEWS

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BEST NEWS OF THE YEAR 2016:

LONDON (Reuters) - A 14-year old girl who died of cancer has been cryogenically frozen in the hope she could be brought back to life in the future after winning a landmark court case shortly before her death, the BBC reported on Friday, 2016-11-18.