CFPB vs. banks on HELOCs; Fed master accounts; Wells Fargo's new portal
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
CFPB seeks to limit banks' ability to collect on delinquent HELOCs: In an appeals court filing, the Consumer Financial Protection Bureau wrote that a federal judge "ignored regulatory text, history and context" when she ruled against a PNC customer.?
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Here's what else we're covering today:
Fed, Custodia clash over discovery requirements in master account lawsuit: The Federal Reserve Board of Governors said it only needs to disclose records about its decision making process, but Custodia Bank says the central bank is playing by its own rules.
Community bank takes on Bankrate and NerdWallet rate comparison sites: Seattle Bank built CD Valet to be an unbiased resource for top certificate of deposit rates that cannot be influenced by advertising dollars.
Wells Fargo launches one-stop banking portal for business clients: The platform will use artificial intelligence to create customized experiences for 富国银行 users.
Banks, credit unions deal with attack on power grid in North Carolina: Roughly 40,000 residents of Moore county have been left without power since Saturday, when two substations were damaged by gunfire. Financial institutions are urging residents to use online banking and call centers if they do not have access to a branch.
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2 年An embargo should be applied to all companies in the Istanbul stock exchange, and although it is foreseen that all companies in international markets will be prevented from accessing finance, they will cause great harm to the world economy when they go bankrupt. Every bank that lends to Turkish companies and every company that does business should take measures that will come to the brink of bankruptcy with the Turkish crisis and we should isolate Turkey from international trade.
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
2 年Thanks for Posting.
Sr. Business Lending Development Consultant at Wells Fargo District Sales Manager - MO, NE, OK , KS, AR, Southern IL
2 年The funding for the CFPB was found to be unconstitutional by the 5th circuit I’m confused how they are still rendering opinions? They have vacated rulings.