Why credit card charge-offs are rising at the top credit unions
The 10 largest credit unions in the nation all saw surges in credit card charge-offs in the third quarter, as a growing number of consumers struggle to make ends meet.
CFPB fines BofA $12M for failing to collect data on mortgage applicants
At least 400 loan officers working for Bank of America violated the requirements of the Home Mortgage Disclosure Act by failing to collect the race, ethnicity and sex of mortgage applicants, and instead falsely reporting to the bureau that the applicants had chosen not to respond.
Mentorships, employee groups: Credit unions strive to attract talent
Diverse employee resource groups and skill set development programs for identifying rising professionals are key methods for enticing — and retaining — the next generation of tech and business experts, said executives.
CFPB has the right problem but wrong answer on medical debt proposal
A proposal by the Consumer Financial Protection Bureau to hide medical debt from credit bureaus zeroes in on the unfairness of medical debt, but further reducing credit scores’ utility as a proxy for a borrower’s ability to repay doesn’t do anyone any good.
Fed’s Waller: Basel endgame proposal need operational capital tweaks
The Federal Reserve governor was one of two dissenting votes on the proposed capital changes earlier this year, but he said he would be open to backing the package if operational capital changes were made.
Best Banks to Work For 2023 with less than $3B of assets
The smallest banks made up more than half of American Banker’s Best Banks to Work For ranking this year.
Best Banks to Work For 2023 with $3B to $10B of assets
Two dozen institutions fell into this midtier asset category for American Banker’s Best Banks to Work For ranking this year.
Best Banks to Work For 2023 with more than $10B of assets
Eleven institutions with at least $10 billion of assets made American Banker’s Best Banks to Work For ranking this year. Read on to see who made the cut.
Banks tap convertible talent as $1.9 trillion debt set to mature
Firms including Banco Santander and Toronto-Dominion Bank’s U.S. investment banking arms have been adding to their convertible bond teams, anticipating that companies refinancing existing debt will be drawn to the asset class in the next several years.
FDIC adds 2 EU regulators to resolution committee
The Federal Deposit Insurance Corp. announced Tuesday that two financial officials with European regulatory backgrounds, Sir Jon Cunliffe and Elke Koenig, will join its Systemic Resolution Advisory Committee meeting on December 5 to discuss Dodd-Frank resolution authority and related issues.