The ten-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership. Source: American Banker
This author has yet to write their bio.Meanwhile lets just say that we are proud Lindsay contributed a whooping 16211 entries.
Entries by Lindsay
Declining foreclosure volume has created a “new normal” in default levels, but servicers can’t get complacent. Ted Manley, co-founder and principal at Manley Deas Kochalski, explains why now is the perfect time to optimize processes with talent and technology to prepare for the inevitable volume increase. HousingWire: What are some of the pressing issues […]
Freddie Mac has announced that Mark B. Grier has been elected to its board of directors. Prior to joining Freddie Mac, Grier served as the vice-chairman and a member of the board of directors of Prudential Financial, leading up to his retirement in 2019. Grier joined Prudential in 1995 as chief financial officer before being […]
The hearing will be one of three held by the House Financial Services Committee to scrutinize the bank next month. Source: American Banker
Earlier this year, Wells Fargo revealed that it had set aside more than $3 billion to pay for a looming settlement over the bank’s fake account scandal, and now, the other shoe has dropped. The Department of Justice and Securities Exchange Commission announced Friday afternoon that Wells Fargo will pay $3 billion to settle three […]
Today, we live in a world of instant access to information and technology that has empowered us to have more freedom and control in nearly every aspect of our lives. At the risk of sounding like a “lazy millennial,” I’ll admit I order everything I need from an app: cars, flights, cleaners, groceries, stocks, healthcare […]
A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions. Source: American Banker
Debt collectors would have to tell consumers upfront that they cannot sue to recover “time-barred” debt under a proposal issued Friday by the Consumer Financial Protection Bureau. Source: American Banker
Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, […]
Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week’s most-read stories. Source: American Banker
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