More risk retention please, CMBS investors say
It would encourage tighter underwriting of commercial mortgages, something the investors say is sorely needed. American Banker: Feed
Blog
Will the Trump era end stress tests as we know them?
Congressional Republicans are weighing potentially broad changes to the stress test program, including alterations to the way the tests are performed and the consequences of failing them. American Banker: Feed
Investors line up to refill fintech coffers
A core processing startup gets $ 16 million and a U.K. challenger bank raises $ 27.6 million. American Banker: Feed
Ocwen agrees to big penalties to resume business in California
The mortgage servicer will pay at least $ 25 million in cash and provide some $ 200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation’s largest state. American Banker: Feed
Citi cuts CEO Corbat’s pay 6.1% to $15.5M
Michael Corbat is getting a pay cut for a year when Citigroup’s profit fell 14% and return on assets failed to meet his 2016 target. American Banker: Feed
How the CFPB constitutionality case will play out
The Consumer Financial Protection Bureau’s temporary legal victory on Thursday has lowered the odds that President Trump will seek to remove the agency’s director, Richard Cordray, despite repeated calls by prominent Republicans for his ouster. American Banker: Feed
OnDeck’s mounting losses prompt cuts, questions about credit model
After recording a $ 35.9 million quarterly loss, the online small-business lender said that it plans to reduce its annual expenses by $ 20 million, cut 11% of its staff and more than double its loan-loss provision from a year earlier. American Banker: Feed
SoftBank to Acquire Major CRE Investor Fortress Investment Group for $3.3 Billion
In a deal that has some market analysts scratching their heads, Japanese telecom giant SoftBank Group Corp. announced the surprising move of buying New York private-equity firm Fortress Investment Group LLC (NYSE: FIG) for $ 3.3 billion in cash. Fortress, an alternative-asset manager with $ 70.1 billion in assets under management, is a major investor
Should banks spell out how they invest customer deposits?
Trust and transparency can be strengthened and like-minded borrowers and banks can be brought together if transactions are “tagged” and investments are explained, argues Bruce Cahan, adjunct professor at Stanford University. American Banker: Feed
Opus Lands a Former Fintech Exec from BBVA
Opus Bank has hired Scarlett Sieber, the former senior vice president in global business development at BBVA, to be its chief information officer. American Banker: Feed