Items Tagged with 'Fifth Third Bancorp'

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  • Fifth Third exec Jelena McWilliams to become FDIC chair

    Former Senate staffer confirmed to replace Martin Gruenberg
    President Donald Trump’s remaking of the country’s financial regulatory system is about to take another step forward, as another of Trump’s handpicked choices is about to take over at one of the nation’s top financial regulators. On Thursday, the Senate voted to approve Jelena McWilliams to take over as the next chair of the Federal Deposit Insurance Corp.
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  • Fifth Third Bancorp to buy MB Financial for $4.7 billion

    Fifth Third is buying out MB Financial's shareholders for $4.7 billion
    Fifth Third Bancorp announced today it is merging with Chicago-based MB Financial. Fifth Third has been investing heavily in the Chicago area during the last two years, and this is the bank's latest move in its push for Chicago investments.
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  • Fifth-Third Bancorp elects new chairman of the board

    Greg Carmichael to take over effective immediately
    Fifth-Third Bancorp announced it elected its next chairman of the board of directors, Greg Carmichael. Carmichael will take over as chairman effective immediately, and will replace Marsha Williams, who will move into the position of lead director.
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  • These banks raised wages on heels of tax reform

    More mortgages for low-to-moderate income borrowers, too
    Banks are giving back to their employees after Republicans in Congress passed their major tax overhaul last week. One bank even announced it would increase funding to its program which offers down payment assistance and financial education to homebuyers.
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  • Fifth Third Bank promotes Phillip McHugh to head of consumer bank

    Replacing Chad Borton, who is leaving for USAA Federal Savings Bank
    Fifth Third Bancorp announced recently that it is promoting Phillip McHugh to become the bank’s new head of its consumer bank, which includes retail banking, mortgage, auto lending, business banking, collections and credit centers. McHugh is replacing Chad Borton, who is leaving Fifth Third to become president of USAA Federal Savings Bank, the bank said.
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  • Fifth Third 3Q mortgage results positive sign for rest of industry?

    Average residential mortgage lending increases 10% year over year
    The mortgage market is projected to perform much better in the third quarter than originally expected. With the third-quarter results in for one of the first lenders, it looks like this could be true. Fifth Third Bancorp not only posted an increase in residential mortgage loan portfolio balances, but it also posted an increase in originations.
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  • Fifth Third to pay $85 million for faulty FHA mortgages

    Bank admits to failing to self-report defective mortgages
    Fifth Third Bancorp will pay $85 million as a part of settlement with the federal government over allegations that the bank failed to self-report mortgages it knew to be defective, causing millions of dollars in losses to the Department of Housing and Urban Development.
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