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CFPB and DOJ announce redlining settlement

CFPB Monitor

Those MSAs were the New York City-Northern New Jersey- Long Island MSA (the “NY/NJ MSA”), the Philadelphia, PA-Camden, NJ –Wilmington, DE MSA (the “Camden MSA”), and the Bridgeport-Stamford-Norwalk, CT MSA (collectively, the “three Affected MSAs”).

NJ 60
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Banker Quotes: As Told To Me v5

Jeff For Banks

Since I estimate my Twitter community only reads about 10% of their tweet stream, and so many of my blog readers do not follow Twitter, below are selected quotes that I tweeted since version 4. Regulators will focus on the fire. Occasionally they will offer an insight that I think my Twitter followers would find interesting.

NJ 81
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Banker Quotes: As Told To Me v6

Jeff For Banks

Since I estimate my Twitter community only reads about 10% of their tweet stream, and so many of my blog readers do not follow Twitter, below are selected quotes that I tweeted since version 5. How do you calculate that cost, Mr. Regulator? It should be noted that this bank was under a regulatory order. Which is unfortunate.

NJ 96
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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

FDIC 60
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Bancorp of New Jersey Hires Former State Regulator as Chief

American Banker

Bancorp of New Jersey in Fort Lee has hired a former state regulator as its new chief executive.

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Investors Bancorp in N.J. Discloses Informal Agreement for BSA, AML

American Banker

has joined the ranks of banks flagged by regulators for Bank Secrecy Act issues. Investors Bancorp in Short Hills, N.J.,

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Why Banks Are Dumping Fannie, Freddie Debt

American Banker

Banks have rushed to the exits when it comes to Fannie Mae and Freddie Mac debt securities. Federal liquidity rules seem to be prompting big banks to do so, but why small banks are unloading the bonds, too, is more of a puzzler.