Citizens Bank to end wholesale originations
Relationships with brokers will be terminated on Dec. 6, but company officials stressed there would be no impact to its loan servicing or other mortgage channels.
In latest shakeup, Truist expands its executive leadership team
The regional bank announced a near-doubling of the size of its most-senior leadership team, plus expanded roles for two former SunTrust executives and the hiring of a wholesale banking chief from Wells Fargo. Truist is under pressure to improve both its efficiency and its financial performance.
After student loan payments restart, 1.4 million Americans risk defaulting on debt
Analysts have been debating the impact on household finances and the economy as Americans resume student loan payments. There’s already a squeeze from higher interest rates, which are expected to slow consumer spending and economic growth.
ECB sends stark warning to bank executives with ESG regulation
Banks are taking too long to treat climate and environmental risks as a material threat that can impact their finances, according to the ECB.
‘You’re responsible. Period.’ Banks take fire for fintech partnerships
At the American Fintech Council’s 2024 policy summit, banking-as-a-service was the talk of the town as experts shared how to avoid missteps in the business.
CFPB fines Enova $15M for illegally withdrawing funds without consent
The online payday lender violated a 2019 consent order by debiting consumers’ bank accounts without the consumer consent, the Consumer Financial Protection Bureau said.
House Republicans demand answers over alleged FDIC misconduct
The House Financial Services Committee asked Federal Deposit Insurance Corp Chairman Martin Gruenberg tough questions about alleged workplace misconduct at the agency during a Wednesday hearing, while reiterating concerns about a proposed capital hike.
Bank stocks finally bounced back this week. Will the good times last?
Share prices climbed sharply amid increased optimism about the outlook for interest rates. Regional banks that got hammered earlier this year were among the biggest winners.
Michigan State University credit union extends buying spree
The $7.7 billion-asset federal credit union in East Lansing announced its third deal in as many months — the planned purchase of in-market peer Gabriels Community Credit Union. It has two bank acquisitions pending, also.
Small-business bankers share their tech priorities
Executives at Capital One, U.S. Bank, BMO and Atlantic Union Bank are striving for seamless onboarding and more efficient branch bankers, among other projects on their technology drawing boards.