Links in “Banks”
- Not Worth It: Lenders Leaving the Non-QM Market
A growing number of lenders are reporting that they are no longer offering non-Qualified Mortgages due to the added costs of compliance and risks of Department of Justice referrals. [2/19]
- FDIC Goes After 8 Executives and Directors of Failed Bank
The FDIC is seeking $15 million from eight former executives and board members of Habersham Bank, alleging they breached their fiduciary duty by approving negligent commercial real estate loans, leading to the failure of the Georgia bank in 2011 and a loss to the insurance fund of $141 million. [2/19]
- Target Breach and Customer Service: How a Small CU Ran Circles Around BofA
How Bank of America and a small credit union handled the Target breach's impact on one particular customer, in this case a reporter for American Banker, provides a lesson in crisis management and opportunities gained and lost. [2/19]
- A Look at TARP in Mississippi
Of the 15 (out of more than 80) banks in Mississippi that accepted TARP funds, only two have not yet repaid the emergency capital they received. [2/18]
- GAO to Congress: Require Banks That Disclose Agreements with Colleges
U.S. Government Accountability Office recommends that Congress require financial institutions that provide debit and prepaid card services to colleges to publicly disclose their agreements. Areas of concern include fees, ATM access and neutrality. [2/18]
- Have New QM Rules Doubled the Cost of Loan Origination?
While new qualified mortgage rules may bring stability to loan manufacturing, that stability will come at a cost. [2/18]
- Trade Group to CFPB: Use the Front Door, Not the Back
Trade group criticizes CFPB's approach of regulation by enforcement settlement and issuance of guidance statements. Group says if the CFPB wants to implement new standards, it should have to take the time to write new rules after soliciting public input. [2/18]
- Despite FinCEN Guidance, Why Banks May Not Be Rushing to Open Doors to Marijuana Businesses
A look at some of the "no, thanks" reactions from banks and trade group representatives in Colorado, the state with an immediate need for action at the federal level, to FinCEN's guidance on banking marijuana businesses. [2/17]
- Target Breach by the Numbers
From 110 million (number of customers that may have been affected by the breach) to 4 (the number of days it took Target to acknowledge the breach after it was discover), a look at the numbers from the Target data security breach. [2/17]
- Homeowner Seeks Class Action Lawsuit Against Banks for Delays in Processing Mortgage Payments
Tampa homeowner sues B of A and U.S. Bank alleging that the banks delayed applying extra mortgage payments until the next mortgage payment was due. [2/17]
