Banking

Weighing in on interest rate and other uncertainties facing all banks, Citizens Financial CEO Bruce Van Saun emphasized investments in point of sale, digital banking and other initiatives meant to enhance revenue down the road.

A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.

As budget questions loom over the most popular Small Business Administration loans, lenders have embraced the previously overshadowed 504 program after a key policy tweak.

The National Credit Union Administration caught flak after it approved raising the threshold for appraisals on commercial real estate loans to $1 million.

Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.

The decision gives the vast majority of banks and credit unions another year to implement the controversial accounting method for loan losses.

The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.

Life insurance companies increased their mortgage investments to levels higher than historical norms, creating more potential danger for their portfolios in the event of a real estate downturn, a Fitch Ratings report said.

With affordability still an issue despite falling interest rates and harnessed home value growth, lenders further loosened credit standards in June, according to the Mortgage Bankers Association.

As policymakers mull ways to update the 42-year-old Community Reinvestment Act, economists at the San Francisco Fed have put forth a novel proposal.