Fairway agrees to pay nearly $10 million for redlining in Birmingham
The Consumer Financial Protection Bureau and Department of Justice issued a consent order against Wisconsin-based nonbank mortgage originator Fairway Independent Mortgage over redlining allegations. Fairway is the country’s fifth-largest mortgage originator by volume.
Meet the banker running for Senate in Wisconsin
Eric Hovde, CEO of Sunwest Bank and Republican nominee for Senate in Wisconsin, is running a tight race against incumbent Democratic Sen. Tammy Baldwin. In an interview with American Banker, Hovde talked about wanting to deregulate the banking industry and bring financial savvy to Washington.
6 tech leaders on the Most Powerful Women in Banking list
American Banker’s annual recognition of the most powerful women in banking includes two CIOs and the newly created position of chief data and analytics officer at a megabank.
Trump says growth to outpace feared debt, inflation from agenda
The former president has vowed to carry out an aggressive campaign of deregulation, renew expiring tax cuts, lower the corporate tax rate to 15% from 21%, and offer fresh tax reductions and benefits to bolster domestic manufacturing — policies cheered by prominent Wall Street and corporate leaders.
Joint Press Release: Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Milton
JOINT PRESS RELEASE | OCTOBER 15, 2024 Federal Deposit Insurance CorporationFederal Reserve BoardFlorida Office of Financial RegulationNational Credit Union AdministrationOffice of the Comptroller of the Currency________________________________________________________________ Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Milton The Federal Deposit Insurance Corporation, the Federal Reserve Board, the Florida […]
TD’s asset cap and the legacy of regulators’ best-laid plans
Regulators’ asset cap on TD Bank for money laundering violations has cemented the enforcement tool as a supreme cudgel to rein in problem banks, while other tools devised in the wake of the Great Financial Crisis gather dust.
Banks step up battle against payday lending
Bank of America, Wells Fargo, U.S. Bank are among the institutions taking advantage of regulatory tailwinds to get more aggressive
Skills for success from The Most Powerful Women in Banking
Honorees from this year’s ranking provide insight into what tools and expertise future generations of professionals following in their footsteps need to advance.
CFPB has become the regulatory nightmare Republicans always feared
More than a decade ago, a senator from Alabama warned that the Consumer Financial Protection Bureau would grow into an unaccountable monstrosity. His successor, Sen. Katie Britt, says that prediction has proven true.
PNC’s surging fee income boosts revenue
The Pittsburgh-based company’s earnings fell 4% in the third quarter from a year ago, although noninterest income climbed 11%.