The big picture on the sorry state of restitution for aggrieved mortgage holders is that banks have paid less than half the $5.7 billion in cash owed to troubled homeowners under nearly 30 settlements brokered by the government since 2008, according to a Washington Post analysis.
It's certainly true that banks are rationalizing the sheer number of branches they support, especially in regions where the costs outweigh the returns. But banks are also investing in the branch experience, which has led to lots of design and technology enhancements.
Legally speaking, JPMorgan has found itself inundated with enforcement actions -- at the worst possible time for the bank's directors and in particular CEO Jamie Dimon. They must contend with high-profile resolutions at the upcoming annual meeting that seek to oust some and force Dimon to give up either the Chairman or CEO title.
Wells Fargo has emerged without question as the big boy on the block in the residential mortgage market. It has vanquished all others, notably Bank of America, en route to roughly one third of the market, amid predictions by some that it could hit 40 percent.
According to a Bloomberg report, banks have shut 1,826 branches since late 2008. More than 90 percent of the closings were in postal codes in which "household income is below the national...
On a day when mortgage rates tumbled to new lows, the Washington Post published a story about some fast-growing loan products, which happen to be anything but low-interest-rate.
When it comes to stereotypes, we tend to think of big bank CEOs as hard-charging, winning-is-paramount types -- the quintessential Wall Street executives. People often think of small town bank CEOs as paragons of their community and champions of the local economy.
In this revenue-challenged era, more banks have turned to payday lending as a necessary source of new fee income. This was always fraught with pitfalls, ones that banks did not want to deal with...
Banks have tried mightily to repair their customer service reputations, which was no small task in the wake of the financial crisis, when all banks were tarred as anti-consumer.
Expenses no longer represent Bank of America's ( NYSE:BAC ) biggest challenge. With Project New BAC, the bank has proven that it can wring costs out aggressively. The trend on that front has been satisfactory.