Links in “Banks”
- How UCC Might Impact How You Handle Checks Payable to Corporations
If you've ever been asked why your institution won't cash a check payable to a corporation, but requires first that it is deposited into the corporate account and then funds drawn after the fact, here's the scoop. [4/18]
- Two Crafters of New Mortgage Rules at CFPB Join Wells Fargo
Wells Fargo hires two former CFPB officials who had a hand in guiding the agency through its rulemaking on mortgage loans that took effect in January. [4/18]
- Welcome to Walmart: Money Transfer Business Just Got a Little More Crowded
Wal-Mart introduces Walmart-2-Walmart service that will allow customers to transfer up to $900 for a $9.50 fee to more than 4,000 stores. [4/18]
- ABA to Agencies: What’s Going On With Flood?
ABA writes letter to the regulatory agencies expressing support for the revisions to flood insurance reform, but asking for more communication on implementation plans, expectations and timetables about Biggert-Waters, which became law 19 months ago. [4/17]
- Threat: Rogue Mobile Apps That Deliver Malware
Thousands of app stores globally, many of them unregulated, lead to mobile malware that can be delivered through rogue apps that imply they're linked to a bank. [4/17]
- BofA Taps $50B Fund for Another $1B
Bank of America settles faulty mortgages claim with Financial Guaranty Insurance Co. for $950 million. The bank has set aside $50 billion to resolve such disputes with regulators and investors. [4/17]
- Capping Too-Big-to-Fail Banks’ Financial Dealings with Each Other
Effort to limit the chance of a single failure dragging down multiple lenders results in rules that will cap financial dealings with one another at 15% of capital. [4/16]
- CFPB’s Paid Audience Member Plant
An outspoken critic of the indirect auto lenders was in the audience at a recent CFPB forum and was called upon to speak as an audience participant. What the audience didn't know was that the CFPB had flown him in and put him up. Makes one wonder what the FTC would have to say about that. [4/16]
- CU Savings Rates Continue to Beat Banksâ Rates
Survey by GoBankingRates confirms that the rates credit unions pay on their share accounts continues to outpace the rates paid by banks on similar products. Examples include savings, where credit unions outpace banks 0.14% annual percentage yield (APY) to 0.11%; checking, where CUs lead banks 0.31% to 0.20%; and money markets, 0.19% to 0.15%. [4/15]
- Banks Under $1B Provide 60% of Agricultural Lending
Banks with asset sizes of less than $1 billion provide nearly 60 percent of all commercial bank agricultural lending. [4/15]
