Jon Prior

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.

Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.

In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.

Mike Roffler, the San Francisco bank’s incoming chief executive, says he’s not shifting strategy. During the first quarter, the company leaned on its mortgage business, where customers moved to lock in refinancings before interest rates rose.

A new Consumer Financial Protection Bureau lawsuit claims the credit bureau and the ex-leader of a key unit failed to comply with a 2017 order to stop misleading consumers about credit reporting and monitoring services.

Questionnaires sent to banks in recent months seek information about loans to same-sex couples, women on maternity leave and people with limited English proficiency. Industry executives and attorneys say the Consumer Financial Protection Bureau may be offering hints about specific types of fair-lending cases it could pursue.

The long-awaited Community Reinvestment Act reform plan is likely to address climate change and bank partnerships with nonbank lenders, while also taking into account the shrinking number of U.S. bank branches, government officials said Monday.

The Houston bank negotiated the agreement with the National Community Reinvestment Coalition after closing its merger with BancorpSouth. That deal created a lender with $50 billion of assets and operations in nine states.

Democrats still want to move President Biden’s five Federal Reserve picks together through the full Senate. But the chamber’s rules will make that tough to accomplish unless Sarah Bloom Raskin can come to terms with GOP lawmakers opposed to her nomination.

The fintech-turned-bank has bet big on pro football marketing. Sunday’s game at SoFi Stadium should give its customer acquisitions a boost, analysts say.

A $28 billion agreement with the National Community Reinvestment Coalition could help win regulatory approval for the acquisition of Michigan-based Flagstar Bancorp. The deal was originally expected to close last year.

The Conference of State Bank Supervisors abandoned a lawsuit against the Office of the Comptroller of the Currency that had challenged the San Francisco fintech's effort to become a national bank without deposit insurance. The company recently amended its application to drop that controversial element.

The state Department of Financial Protection and Innovation issued a cease-and-desist order against Nano Banc, saying the troubled bank violated an earlier consent agreement when it replaced five board members and appointed a new CEO without the regulator’s permission.

Alternative lenders, which often use aggressive underwriting tactics to generate high returns, were closing in on banks even before the pandemic. Now they've pulled ahead.

Advocates negotiating with the Minneapolis bank also want commitments for mortgage assistance and payouts to financial nonprofits. The pressure for Federal Reserve hearings coincides with Biden administration calls for more scrutiny of big bank mergers.

Companies using only a person’s name and not other identifiers to screen job and tenant applications can produce inaccurate information, according to the bureau. The agency's advisory opinion said such practices violate the Fair Credit Reporting Act.

The Alabama company agreed to buy two nonbank lenders earlier this year. It’s still on the lookout for possible deals, potentially in corporate finance or wealth management, its chief financial officer told American Banker.

An Indiana housing nonprofit wants the Fed to take a closer look at the proposed merger. Its latest move is a lawsuit that alleges racial discrimination by the regional bank.

After exiting the business roughly 20 years ago, the San Antonio bank is working with tech consultant Infosys to help it build out a digital consumer lending business that will include home loans.

The Houston company has agreed to pay a $3 million penalty, provide $4 million in loan subsidies to new borrowers and make other investments aimed at improving home buying opportunities for Black and Hispanic households.