Barclays dismissed mortgage-bond trader Yoon Seok Lee over claims that he lied to clients.
Promontory said Wednesday that it acquired FS Advisory from Date, who founded the consulting practice along with Fenway Summer in 2013 after leaving the Consumer Financial Protection Bureau as deputy director.
Benjamin Lawsky, the New York regulator known for aggressive investigations and headline-grabbing fines against financial firms, is stepping down, and he reportedly plans to make a living offering banks and other companies advice.
With older appraisers retiring and fewer and fewer college graduates entering the profession, industry observers say that, in five to 10 years, there won't be enough appraisers to handle the volume of home sales. For lenders, that could mean higher appraisal fees and long delays in closing loans at a time when technology could be speeding up the process.
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