Banking

Acting Director Sandra Thompson said the Federal Housing Finance Agency is considering changes to the risk-based fees that critics say have disproportionately hurt minority borrowers of low down-payment loans.

Many banks are still making loans tied to the scandal-plagued benchmark despite years of preparation for its demise. The end of 2021 could prove hectic as bankers scramble to implement changes and explain them to commercial borrowers.

Chief Information Officer Scott Case and his staff are building patent-pending technology to transfer data from legacy BB&T and SunTrust systems to new digital channels while preserving the best of each company's platforms elsewhere.

The transaction is also the first securitization for ACREC. The entity is also taking on multiple roles, acting as sponsor, issuer and collateral manager.

Ratings jumped largely because white-collar workers have raced to take advantage of the lowest mortgage rates in history.

At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.

Senate Majority Leader Chuck Schumer said he planned to move Tuesday to file a discharge petition to move Chopra’s nomination out of the Senate Banking Committee and onto the Senate floor.

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.

Elizabeth Warren asked the Federal Reserve this week to force the spinoff of the bank’s nonbanking operations. Wells, which was recently hit with another $250 million fine, countered that it has made significant progress in improving its risk management and addressing misconduct.

Digital technologies are transforming the delivery of financial services and reshaping consumer expectations. At the heart of change is the speed of money movement, which now represents the future — success for those who deliver, challenges for those who don't.