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Is Wells Fargo stuck in the denial stage of recovery?

Tim Sloan
Since Wells Fargo's phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it's a different story.

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Analyst coverage of Fannie another sign GSE privatization gaining steam

Fannie stock
B. Riley FBR initiated equity coverage of the mortgage giant, citing housing finance reform proposals that could result in Fannie and Freddie Mac being released from conservatorship.

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BB&T, SunTrust pledge $30M for affordable housing in Charlotte

Charlotte
Darwin Brandis/Darwin Brandis - stock.adobe.com
The two banks will each give $15 million to the Foundation for the Carolinas, which supports affordable housing development in Mecklenburg County.

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Community bankers alarmed after big banks backtrack on faster-payments pricing

Bob Steen at Bridge Bank (left) and Steve Ledford of the Clearing House.
In 2016, a big-bank consortium said that it would charge the same prices to all institutions, regardless of their size. But now the group has added a large caveat to that pledge.

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Credit card, auto loan delinquencies hit seven-year high

Deliquency rates for credit cards and auto loans, from ABA quarterly data
More consumers were late in paying two major types of loans in the latest figures from the American Bankers Association, but it appears to be a relatively isolated problem.

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Time to rebrand Wells Fargo

Wells Fargo sign
A Wells Fargo & Co. sign sits on display outside the company's offices in San Francisco, California, U.S., on Tuesday, April 27, 2010. Wells Fargo & Co., the fourth-largest U.S. bank by assets and deposits, may raise its dividend once capital levels satisfy regulators and if the economic recovery continues, said Chief Executive Officer John Stumpf. Photographer: David Paul Morris/Bloomberg
David Paul Morris/Bloomberg
PR campaigns won't be enough to salvage the bank's reputation after a series of scandals. Instead, it should look into adopting a new name, among other crucial steps.

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Real-time-payments monopoly puts financial system at risk

federal-reserve
In a string of enforcement actions issued Thursday, the Federal Reserve barred one former banker from the industry for misappropriating confidential supervisory information and fined three others for misappropriating internal bank records.
The Fed should continue to play a key role in the new payments system, rather than leaving it in the hands of the country's largest banks, Thomas Hoenig and Bruce Summers argue.

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Small banks try new approach to stanch deposit bleeding

AB-040419-DEPOSITS2.jpeg
Community banks are relying more on analytics, incentives and business partnerships in hopes of stemming an outflow of deposit relationships.

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Mortgage lender poised to begin digital bank experiment

Stephen Curry, chief executive officer of Gateway Mortgage.
Gateway Mortgage Group's dream of being a national, diversified financial services player will hinge on its effort to turn a community bank into an online-only platform.

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Guns, CECL and 'too big to manage': Big-bank CEOs on Capitol Hill

JPMorgan Chase CEO Jamie Dimon with Citigroup CEO Michael Corbat and Bank of America CEO Brian Moynihan
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., center, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 10, 2019. The chief executives of some of the U.S.'s biggest banks should get ready for hostility as they're about to serve as political-theater targets at a House committee hearing, analysts say. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
A House Financial Services Committee hearing featuring seven large-bank CEOs tackled a host of contentious subjects, as Republicans and Democrats sparred over whether such institutions are simply too big.

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GSEs Affordable housing Faster payments Delinquencies Branding Real-time payments Deposits TBTF Wells Fargo
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