Banking

Under guidelines proposed this month, credit unions would see changes in the quality standards for computer-generated appraisal systems, along with when and how financial institutions and consumers can request reconsiderations of value.

The amount of distressed assets rose 10% in the first three months of the year, according to a new report from MSCI Real Assets.

The Consumer Financial Protection Bureau issued two reports analyzing banking and consumer credit trends in the South, where many rural areas are considered "banking deserts."

The construction manager for the beleaguered New Jersey mall is suing JPMorgan Chase & Co. to recover more than $30 million of unpaid work and accrued interest.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

Decision-making algorithms powered by machine learning are seen as the next frontier for a more nuanced approach to mortgage decisions but skeptics worry this will just be a new way to discriminate.

The findings from Standard & Poor's show little impact from the Federal Housing Finance Agency's proposal regarding what information is required to underwrite a conforming mortgage.

Bank regulators rolled out two joint proposals this month as part of a broader push to address discrimination in home valuations. Advocates see promise, but appraisers fear the changes could artificially inflate valuations.

Bank of America is also planning to expand into Madison, Wisconsin; Boise, Idaho; and Birmingham, Alabama, a company executive said. The goal is to find growth opportunities that don't require operating a large number of branches, the executive indicated.

CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.