Wells Fargo to pay $2.1 billion for role in housing bubble
Wells Fargo is one of the last remaining big banks to settle charges related to its role in the subprime mortgage crisis.
Wells Fargo is one of the last remaining big banks to settle charges related to its role in the subprime mortgage crisis.
Experts say variables include what type of loans a bank has on its books, local competition and marketplace demand.
The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time.
In his semi-annual testimony to Congress on Tuesday, Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy.
In an interview Thursday, Federal Reserve Chairman Jerome Powell gave an upbeat assessment of the economy, noting that unemployment is at its lowest point in nearly two decades and inflation is rising toward the Fed’s optimal range.
A national credit-reporting and mortgage-data company founded in San Diego plans to spend nearly $3.6 million to establish its headquarters and operations center downtown in the Landmark Center.
A survey released Monday shows that only 30 percent of companies tried to raise outside financing during the previous three months.
The acquisition will add three banking offices to Merchants’ subsidiary, Joy State Bank.
The Federal Reserve is set Wednesday to modestly raise its key short-term interest rate for the second time this year. But attention will be focused on any hints the Fed might accelerate its hikes in the coming months.
Wells Fargo & Co.’s sale of 52 branches to Flagstar Bancorp Inc. marks a retail-banking exit from Indiana, Michigan and Ohio.
The U.S. attorney’s office says five central Indiana residents and one man from Detroit took more than $8 million from a bank and an insurance company, in part to pay for a home, a wedding, cars and more.
Fifth Third is paying a premium to gain a bigger foothold in the Chicago market, where MB Financial is among the middle-market banking leaders with 86 retail bank branches.
Juan Gonzalez, who was promoted from within, stepped into his new role at the bank Monday.
The potential $1 billion fine would be largest ever imposed by the Office of the Comptroller of the Currency, the bank's main national regulator, and the Consumer Financial Protection Bureau, the federal watchdog bureau.
Federal Reserve officials signaled rising confidence last month that a strong economy will lift inflation closer to its 2 percent target and that they may accelerate the Fed's pace of interest rate hikes as a result.
The bank has staked out the upscale Keystone at the Crossing submarket for a staffed, free-standing addition to its growing local operations.
The Federal Reserve is raising its key interest rate and signaling confidence in the U.S. economy's durability but plans to continue a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell.
The segment crashed in the financial crisis that began in 2008, forcing banks to write off billions of dollars in loans. But it’s roared back since, and last year national commercial real estate lending surpassed its 2008 peak.
Completing the transaction will be highly profitable for the investment banking firms representing the institutions.
The number of financial institutions on the Federal Deposit Insurance Corp.’s problem-bank list has fallen below 100 for the first time in a decade.