Banking

The events of 2020 have only served to accelerate a number of potentially disruptive trends among consumers when it comes to banking and financial services — What does the emerging future of consumer and retail banking now look like?

Customers' needs and expectations changed drastically in 2020, overturning conventional thinking about their experience in the process. How can we strike the right balance between embracing digital channels and recognizing the value of human touch?

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

Providers, including investors in low-income housing tax credits, have become hesitant to make deals.

While overall mortgage delinquency rates slowly descend, serious delinquencies — especially loans past 120 days due — jumped in July, according to CoreLogic.

The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities.

Deferrals may be hiding credit issues, leading lenders to track deposit flows, property maintenance and other factors to gauge the true health of their portfolios.

The government-sponsored enterprises set a Sept. 30 deadline for sellers to accept applications for Libor adjustable-rate mortgages.

The company says it plans to originate 40,000 mortgages for Black and Hispanic households and finance 100,000 affordable rental units over five years.

The company, which recently completed an audit, set aside funds to cover issues tied with a lending program it discontinued last year. The move cleared the way for Sterling to file an overdue annual report with the Securities and Exchange Commission.