The Open Financial Exchange has 7,000 installations. More than a decade ago, the industry saw the data standard as the solution to screen scraping, a practice that bedevils them today.
First Horizon reports higher 4Q profit after making more loans
Loans increased, the margin widened and credit quality continued to improve.
Fee income, loan growth drive profit at First Republic
The San Francisco private bank reported double-digit gains in originations and noninterest income that led to a nearly 30% increase in profits last quarter.
Norwood in Pa. elevates retired CEO to chairman’s post
William Davis Jr. was the company’s CEO from 1996 to 2009
Mnuchin’s nomination hearing set for Thursday
The Senate Finance Committee will hold a hearing on Treasury Secretary-designate Steven Mnuchin’s nomination on Thursday, Jan 19.
Bankers cry foul over CFPB’s five-star complaint rating system
Bankers are trying to stop the CFPB from allowing consumers to rank how companies handle complaints on a one- to five-star scale and to publish narratives of consumer experiences in an online public database.
Post Oak Bancshares to buy State Bank of Texas
The deal expands Post Oak’s existing operations around Houston
Consumers have gone paperless, time for businesses to catch up
Corporate clients are increasingly asking their banks to help digitize back-office processes. Such a move can help both parties save time and money.
OCC fintech charter opens ‘henhouse’ to payday lenders: consumer groups
Consumer protection groups opposing the Office of the Comptroller of the Currency’s plan to offer limited-purpose bank charters to fintech companies raised concerns that the move could allow payday lenders to operate nationally.
The anti-laundering penalty box
Violations of Bank Secrecy Act and anti-money-laundering compliance remains a hot topic for financial institutions as regulators can bar them from branch building and bank acquisitions. Here are some notable regulatory actions that are still unresolved.