Laura Alix

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

Delinquencies have been ticking up since the start of the coronavirus pandemic and Capital One is warning of more pain unless the government provides additional relief to tenants and landlords.

The Minneapolis company said 75% transactions have been handled online since the pandemic hit.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic.

Digital banks outscored brick-and-mortar banks in a recent J.D. Power study of customer satisfaction. However, the survey pointed to shortcomings in call center services, which are in high demand during the COVID-19 pandemic.

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic.

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.

Alexander most recently headed up mortgage lending and before that co-led the integration of Key's acquisition of First Niagara. He replaces Dennis Devine, who recently left the company.

Under terms of the settlement approved by a Georgia court Monday, Equifax may also have to pay an additional $125 million if the initial amount doesn't cover all the claims.

The city of Philadelphia and Wells Fargo have agreed to resolve a 2017 lawsuit in which the city accused the bank of violating the Fair Housing Act by steering minority borrowers into risky, high-cost loans.

Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting homeownership for low- and moderate-income residents.

Yale researchers have recommended several consumer banking products and services that could help those with mental health challenges manage their money.

In recent months federal regulators have been speaking out on the risks that extreme weather events pose to the financial system, something their European counterparts have been doing for some time.

Home loan originations rose by double digits in the third quarter while auto loan originations approached an all-time high, according to new household credit data from the New York Fed.

Figure Technologies, which has made $600 million in home equity loans in the past year, says its next move will be refinancing student loans.

The Minneapolis company attributed the uptick to new tech tools, additional loan officers and other process improvements — not to mention the refi boom fueled by lower rates. It’s a formula other banks are expected to copy.

The Minneapolis bank says recent investments in its retail operation contributed to strong improvement in home lending and mortgage banking fees.