Tag Archives: servicing

New ABA Endorsement to Help Banks Offer Credit Cards

To enable banks to issue credit cards with their own logo to commercial and retail customers, ABA has endorsed a new agent credit card program offered by ServisFirst Bank. The card program’s implementation fee will be waived for ABA members. ServisFirst Bank — a $7.5 billion bank based in Birmingham, Ala. — won ABA’s exclusive seal of approval based on ...

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CFPB: Banks Effectively Managing ECOA Compliance Risk in Small Biz Lending

The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan servicing, credit cards, debt collection, mortgage servicing, payday lending, and for the first time, small business lending.

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ABA Urges CFPB to Ensure Rules are ‘Consistent with the Law’

The Consumer Financial Protection Bureau should consider whether the rules it has written since 2011 are “consistent with the law, clear, and whether they promote the financial interests of consumers in a strong, vibrant, and innovative market that offers the variety of financial products and services that consumers want and value,” the American Bankers Association said in a comment letter to the bureau today.

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FHA Offers Additional Relief to Borrowers in Disaster Areas

The Federal Housing Administration today announced a new option that allows FHA-insured homeowners whose homes were damaged by recent natural disasters to remain in their homes, and also reduces losses that would otherwise negatively affect FHA’s mutual mortgage insurance fund.

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