Regulators have ordered a total of five Fulton Financial Corp. entities to improve deficiencies in their Bank Secrecy Act and anti-money laundering compliance. Fulton Financial and Lafayette Ambassador Bank entered into cease and desist orders this month with the Federal Reserve for compliance deficiencies for anti-money laundering. (see PDF) Three other Fulton subsidiaries—Fulton Bank, Swineford [...]
The 2013 HMDA data is now available. Through ADI Data ConnectSM, we created this infographic. 2013 HMDA reportable applications and loans were down in 2013 due primarily to lower volume for refinance mortgages. The decline was concentrated along the Pacific coast and throughout much of the East, in particular the Northeast and the Midwest. This [...]
Minority homeowners were among the hardest hit during the fallout from the housing bubble. As lenders adjusted their loan products to manage the risks in their portfolios with market interest rates remaining at historic lows, the share of minority mortgage originations shrank while the market shifted from home purchase to refinance mortgages. In this environment, [...]
