Tag Archives: Banks

This will be JPMorgan Chase's first house transaction (meaning the bank owns all of the mortgages in the deal) since the financial crisis.

Banks and federal savings associations are about to receive some regulatory relief following a review of the Economic Growth and Regulatory Paperwork Reduction Act by federal agencies that happens only once every 10 years.

When banks make the decision to stop the foreclosure process after it has already been started, borrowers may have already abandoned or stopped maintaining the property, which can lead to lower property values, blight, and crime.

For the most part, when being investigated over their pre-crisis residential mortgage-backed securities practices, the nation’s largest banks have come out having to pay billions of dollars in settlements and penalties.

Karan Kaul and Laurie Goodman contend that with taxpayers on the hook when nonbank servicers fail, more regulation is needed in order to reduce risk to taxpayers and shift more of it on to the industry.

FDIC Chairman Martin Gruenberg said despite the increase in profits, banks are still operating in a "challenging environment."

Banks have come under fire for their tight lending standards adopted in the wake of the crisis, but the Fed reported that some banks are beginning to lighten up.

In his first speech as president of the Minneapolis Fed, Neel Kashkari said that progress had been made toward ending too big to fail, but that the Dodd-Frank Act did not go far enough.

So far this year, the bank has had to cut nearly 600 mortgage jobs and agreed to a $1.2 billion settlement with regulators over underwriting practices.

Comptroller of the Currency Thomas Curry encouraged banks to meet with stakeholders in their communities to determine effectiveness of their financial products and possibly pinpoint new business opportunities.