Key insight: In research published Tuesday, the New York Fed explored the question of how the end of pandemic-era forbearance on student loans may negatively affect other consumer-lending segments. Supporting data: Of the borrowers who defaulted on their student loans in the first quarter of this year, 40% were also delinquent on auto loans, and […]
Late student-loan payments are rising. Is a domino effect coming? Read More »
Frost Bank’s mortgage unit generated $595 million in outstanding loans in 2025, surpassing what its leaders had initially expected when the San Antonio-based bank re-entered home lending two years earlier. Processing Content “If you look at why we exited, we just weren’t able to deliver that product in a relationship way that we did everything
Why banks are betting on mortgages again Read More »
Key insight: Fifth Third is optimistic that its acquisition of Comerica will deliver even better results than it previously expected. But there’s still important work ahead, as the systems conversion is slated for Labor Day weekend. Supporting data: The company plans to deliver $360 million of net cost savings this year, and to reach an
Fifth Third CEO on Comerica integration: So far, so good Read More »
In this week’s banking news roundup: Rohit Chopra is named senior advisor to the Democratic Attorneys General Association’s working group on consumer protection and affordability; Flagstar Bank’s private-banking division adds two additional wealth-planning capabilities; Chime promotes three members of its executive leadership team; and more.
Democratic AGs hire former CFPB Director Chopra Read More »
Key Insight: The nomination allows acting CFPB Director Russell Vought to bypass the Federal Vacancy Reform Act. What’s at Stake: Vought has three weeks left before he reaches the 210-day limit to remain at the agency. With the nomination, he gets another 210 days and potentially can lead on an acting basis for 420 days.
Trump taps OMB official as new nominee for CFPB director Read More »
Key insight: Consumers’ use of home equity lines of credit is rapidly growing, as homeowners look to tap into the value of their houses, but banks are losing market share. Supporting data: Banks hold just under two-thirds of total HELOC debt, compared with the more than 80% they held some 15 years ago. Forward look:
Banks are losing share in rapidly growing HELOC market Read More »
Key Insight: The Consumer Financial Protection Bureau’s proposal comes as auto loan delinquencies are hitting their highest levels in decades. What’s at Stake: Banks object to reduced supervision of nonbanks, arguing that the Dodd-Frank Act specifically requires consistent oversight of banks and nonbanks. Supporting Data: If the CFPB adopts a rule raising auto loan thresholds,
As auto delinquencies rise, CFPB seeks to cut oversight Read More »
Key Insight: At its first investor day since 2011, Bank of America expressed optimism on a number of financial fronts, but it wasn’t enough to stop its stock from dropping slightly on Wednesday. Supporting Data: The bank issued new guidance on its return on tangible common equity, saying ROTCE would reach 16%-18% over the next
BofA projects financial gains, but investors want even more Read More »
Samuel Corum/Bloomberg What’s at stake: The CFPB uses outdated software and has no strategy for responding to cybersecurity risks, the report found. Supporting Data: The CFPB’s information security program experienced a rapid drop in effectiveness — from a level 4 in fiscal year 2024 to a level 2 rating in fiscal year 2025. Forward Look:
CFPB’s cybersecurity program ‘no longer effective:’ OIG says Read More »
Key insight: Truist Financial reported third-quarter earnings Friday, with earnings per share that beat analysts’ estimates. Forward look: The regional bank expects full-year 2025 expenses to rise about 1% compared with the prior year. Supporting data: Wealth management fees rose 6.9% year over year. Truist Financial exceeded Wall Street expectations for third-quarter earnings, with a
Truist beats estimates, maintains 2025 guidance Read More »