The Georgia Department of Banking and Finance said it obtained superior court orders authorizing it to take possession of two banks in the state. The Washington Department of Financial Institutions closed down a bank in that state. In addition, Merit Mortgage Services has advised its loan correspondents of its decision to exit the mortgage business.
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The banks’ willingness to fight millions of borrowers who were wrongly sold insurance alongside their loans is crumbling
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The National Asset Management Agency has reported a loss of €714m for last year, after setting aside €1 billion to take account of a fall in the value of loans it has taken on from the banks.
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Banks are now prohibited from marketing loans and other services through telephone
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Two Orange County judges are trying to force homeowners in default on loans and their lenders to come to terms, and to keep a flood of foreclosure-related legal challenges from turning into protracted, expensive, time-consuming — and …
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Lenders face a legal minefield with planned new rules on loans to the mentally ill
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Dallas-based Comerica Inc. announced plans to acquire Houston-based Sterling Bancshares. In the news release, Comerica said, “The strategic acquisition accelerates Comerica’s growth in Texas and maintains Comerica’s capital strength.” A Mergermarket Group report said other Texas banks might be inclined to follow Sterling’s lead, citing lack of growth which increases pressure to sell.
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COMMONWEALTH Bank has fired a fresh salvo in the current mortgage pricing war between the major banks with a new no-fee home loan.
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As bank loans to MFIs are mostly unsecured, the Indian Banks Association had requested RBI in December to relax its restructuring guidelines for the MFI sector.
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McClatchy Newspapers Friday, February 11, 2011
FORT LAUDERDALE — With a surge in Internet banking, growth in automatic teller machines and a tight economy, you might think that new branches would be far from the focus of banks today.
But many of the country’s big banks are opening more offices to try to sell existing customers more services beyond checking or savings accounts. They’re now peddling the gamut from loans to investment funds, stock brokerage to insurance — activities once off-limits to banking companies.
They’re becoming aggressive partly to recoup some of the money that banks are losing from tighter government rules on overdraft fees and debit cards.
Bankers say their expanded offerings help customers with one convenient location for multiple needs, but some consumers are wary. They fear that fees for simple banking will rise — or at least, not be waived — if they don’t tap into the …
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