Santander will exit U.S. home lending, review commercial segments
The moves, which are part of a multiyear strategy, are meant to focus resources in areas where the Spanish banking giant can earn solid returns.
By
Laura Alix
One bank’s response to climate change: Financing condo retrofits
Climate First Bank in St. Petersburg, Florida, is offering loans for condominium improvements that will reduce carbon emissions while fortifying buildings against serious weather events. More banks may implement similar programs in the years ahead.
By
Laura Alix
Big credit card issuers make their moves in buy now/pay later
Executives at JPMorgan Chase, Capital One and U.S. Bancorp all spoke this week about plans to take on upstarts that offer interest-free financing on consumer purchases. The increased competition figures to result in tighter margins across the category.
Big banks emphasize diversity in capital markets deals
In a recent securitization with Capital One, RBC Capital Markets gave a bigger role to small firms owned by minorities and women. It’s one example of how banks are striving to be more inclusive.
By
Laura Alix
Citizens Financial to pay $149M for capital markets firm
The Rhode Island bank has entered into an agreement to acquire JMP Group, which focuses on the health care, technology, financial services and real estate sectors.
By
Laura Alix
Citizens Financial buying Investors Bancorp for $3.5 billion
Combined with its pending acquisition of HSBC's East Coast branches, the deal would give the Rhode Island-based Citizens a top-10 deposit market share in metropolitan New York.
By
Laura Alix
Regions Bank sees potential threat in rising COVID cases in Southeast
States in its footprint have some of the lowest vaccination rates in the country. Another round of shutdowns could further damage industries like hospitality that have already been hit hard by the pandemic, executives said.
By
Laura Alix
Commercial loan performance is all over the map in pandemic era
Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.
By
Jon Prior
Fifth Third buying health care lender Provide
The fintech specializes in lending to dentists, veterinarians and other solo providers looking to grow or establish their own practice.
By
Laura Alix
Two more regional banks are rethinking overdraft fees
Executives at Citizens Financial and Regions Financial said they plan to make policy changes that will reduce their reliance on the controversial but already dwindling charges.
By
Laura Alix
Regions buying industrial loan company EnerBank USA
The deal for the Salt Lake City-based home improvement lender, which Home Depot tried to acquire more than a decade ago, is part of a larger effort by Regions Financial to diversify its home lending business.
By
Laura Alix
Wells Fargo’s first sustainability bond underscores ESG’s influence
The $1 billion bond, which follows similar issuances by Citigroup, JPMorgan Chase, Bank of America and Truist Financial, gives a big role to broker-dealers owned by minorities, women and disabled veterans.
By
Laura Alix
Fed terminates 2017 enforcement action against Santander
The enforcement action, which concerned deficiencies in the auto lender’s compliance risk management program, was the last remaining regulatory matter Santander had to resolve.
By
Laura Alix
Oportun’s bid for bank charter meets resistance
Several consumer advocacy organizations have urged the Office of the Comptroller of the Currency to deny the online lender's application for a national bank charter, citing concerns about its lending and debt-collection practices.
By
Laura Alix
CFPB fines Santander Consumer $4.7M for fair-lending violations
The Consumer Financial Protection Bureau said that the Dallas-based auto lender knowingly supplied inaccurate consumer data to the three major credit reporting agencies.
By
Laura Alix
Fed joins global panel focused on fighting climate change
The Federal Reserve said Tuesday that it had joined the Network of Central Banks and Supervisors for Greening the Financial System after participating in discussions with the group for over a year.
By
Laura Alix
Bankers talk around lending prospects, talk up need for stimulus
Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.
By
Jon Prior
Why multifamily loans remain resilient in New York
Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized.
By
Paul Davis
How lenders aim to profit from climate change
HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.
By
Laura Alix
‘Flat to slightly down’: 3Q loan demand disappoints
Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.
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