Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime mortgage backed securities in 2006 and 2007. breaking_news national-regional law-regulation auto mortgage mi consumer-finance MORE
The Cincinnati bank is following a wider industry strategy of opening new branches in faster-growth, urban markets. Growth strategies Consumer banking Branch management Fifth Third Bancorp MORE
JPMorgan Chase, drawing from its experience in the Motor City, has created a $125 million program designed to help community development financial institutions make bigger investments in impoverished neighborhoods. national-regional strategic-alternatives dealmaking-strategy MORE
Institutions see opportunity in Detroit, reversing trend of shrinking branch footprint Management M&A. 1Management MORE
Urban Partnership Bank serves primarily lower- to moderate-income neighborhoods on Chicago’s south and west sides as well as in Detroit. In addition to operating a branch in Detroit and eight in Chicago, the bank opened one inside a Walmart store about a year ago. “In MORE
The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending. Auto lending Auto leasing Deposits Earnings Consumer lending Subprime lending Ally Financial Ally Bank MORE
The three FIs are CommunityWide FCU ($395 million) of South Bend, Indiana; Advantage Plus FCU ($125 million) of Pocatello, Idaho, and One Detroit CU ($35 million) of Detroit, Michigan. So, how many credit union deals did you land this week? MORE
15 Percent of the Detroit Lions Gridiron Club members who’ve tested their new order-ahead app so far. Today In Data Detroit Lions Dunkin’ Donuts mobile apps News parking meters payments data QSRs Today in Data traffic MORE
While half of the 20 new models unveiled at this year’s Detroit Auto Show were sedans, station wagons and coupes, it seems that consumers weren’t convinced. We may have spoken too soon. Despite earlier auto show debuts to the contrary, it turns out the U.S. vehicle market in 2017 is still dominated by consumer interest in SUVs. Sales of cars and light trucks in the U.S. slipped 1.8 percent in January. The reason reportedly has something to do with whom automakers are choosing to sell to. MORE
Detroit MI: Autobooks, a financial technology company that builds cash management tools to help small business owners, announced the closing of a $5.5 MORE
Lyft found that the most generous tippers were located in New York City, Atlanta, Detroit, Dallas, San Jose, Minneapolis, and Westchester County, NY. Uber , the ride-hailing company, has facilitated more than $600 million of payments in the form of tips to its drivers since it launched its in-app tipping service for drivers in 2017. According to a report , Uber had $50 million in tips in August, but that has grown since then. MORE
Huntington Bancshares has partnered with the owner of the NBA's Detroit Pistons to provide $25 million in financial support in Flint, Mich., in response to the city's drinking water crisis. breaking_news consumer-finance m-a small-business mortgage mi oh national-regional MORE
The retailer said that a threat targeted the profiles of customers for nearly two months, Detroit Free Press reported. After Macy’s cyber tools detected suspicious logins on June 11, the retailer is warning customers about a data breach. In a letter to its eCommerce customers, Macy’s said that a third party was behind the suspicious activity, and that party had received information from a non-Macy’s source. MORE
For those in the Detroit area, the Perficient office in Livonia is hosting the SouthEast Michigan Atlassian User Group (AUG) on April 24th. The AUG commonly meets in the Livonia/Detroit Perficient office for the Tuesday evening event, followed by an encore presentation at lunch the following day in Ann Arbor at the Ithaka office. The SouthEast Michigan AUG meets the last Tuesday of every other month for the 2018 year. MORE
Mortgage lenders are stressed about how the CFPB''s new mortgage disclosure rule will impact their business. But the new forms may give them a chance to improve business performance. law-regulation MORE
Personal Finance brain Detroit News George Loewenstein Jennifer Calonia Saving MoneyWhile it seems like a utopian concept, the argument that some consumers could be addicted to saving money might not be as inconceivable as it sounds. MORE
BMW’s North American CEO, Bernhard Kuhnt, spoke about the company’s plans for a subscription-type service at the Detroit Auto Show in January. In an effort to reach drivers who want the convenience and variety of a subscription, Mercedes-Benz is rolling out a pilot service called the Mercedes-Benz Collection. Drivers will be able to access Mercedes-Benz vehicles in Philadelphia and Nashville with the launch, the company said in an announcement. “We’re MORE
Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor. breaking_news consumer-finance dealmaking-strategy auto strategic-alternatives mi national-regional MORE
Ally Financial has blasted a proxy advisory firm for its recommendation that shareholders vote against the re-election of four of the Detroit company's directors. breaking_news auto consumer-finance mi national-regional MORE
Ally Financial in Detroit has agreed to provide up to $600 million in financial backing for Carvana’s online auto sales. breaking_news consumer-finance auto mi az national-regional MORE
Discover Ranks highest in credit card customer satisfaction for third consecutive year DETROIT: 18 August 2016 — At least one in five credit card customers are carrying the wrong card, Cards Commerce Credit Unions News Payments Asia Europe insights US MORE
If there is one reason retailers must move forward with a mobile app strategy it’s this: consumers not paying in cash spend an average of 13 percent more when it’s a mobile payment experience MORE
TCF Bank is offering that deal to any Michigan resident who comes into one of its 50 Detroit area branches. Bankaholic has all of the best CD rates. CD Rates 18-month cd best cd rates certificates of deposit tcf bank MORE
The Detroit lender developed rotational training programs in auto finance, accounting and technology to help attract and keep promising employees, especially millennials, who had a tendency to bolt. Best Banks to Work For Community banking Training Employee retention MORE
Ally Financial in Detroit swung to a profit in the second quarter as a tax benefit outweighed the costs of insurance payouts on hailstorm-damaged vehicles. breaking_news consumer-finance earnings-national-regional-banks auto mi national-regional MORE
Ally Financial reported strong loan and deposit growth in the first quarter, but a shift in the makeup of its automobile loan portfolio force the Detroit company to nearly double its loan-loss provision from a year earlier. breaking_news national-regional performance auto consumer-finance MORE
But you wouldn’t know it by looking at the lineup of this year’s North American International Auto Show in Detroit. High-riding, gas-guzzling, wide-bodied SUVs were more popular among U.S. and international drivers than ever in 2016. Half of the 20 new models unveiled this year were sedans, station wagons and coupes. Which seems odd, since SUVs, trucks and crossover models by far outsold traditional car models in 2016. MORE
Personal Finance Cameron Huddleston GoBankingRates The Detroit NewsPop quiz: Which of the following statements is true? Rich people are greedy. Money corrupts people. People get rich by taking advantage of others. Good people should not care about money. All of the above. MORE
• Detroit, Michigan – Flagstar Bank ($4.65 Flagstar Bank, headquartered in Troy, Michigan, just outside of Detroit, offered the largest volume of mortgage loans of the community banks identified, with more than four and a half billion dollars in mortgages. MORE
This marked the first action of this kind by car manufacturers, but Carlin has been visiting auto manufacturers in Detroit to address cybersecurity and national security for driverless cars. Residents of Pittsburgh are about to see their city become the testing ground for Uber’s driverless cars, and perhaps, this once town of steel is sturdy enough to withstand any potential cyberattacks. According to Reuters , the U.S. MORE
Oakland, San Jose, San Francisco, Detroit, Austin, Boston and Chicago. Detroit. Amazon is opening a 1 million-square-foot warehouse in metro Detroit and plans to hire 1,000 employees to fill it. Amazon Amazon Concord Amazon Detroit Amazon Headquarters Amazon Jobs Amazon Mexico City Amazon offices Amazon San Diego Amazon warehouses ecommerce eCommerce giant international News Retail Whole Foods MORE
Detroit seemingly has made a direct overture to transportation issues as cited by Amazon, with that city having introduced a ballot initiative that would spawn a transportation network geared toward connecting counties and the city itself. Said Gerry Anderson, who serves as chief executive of DTE Energy, supported the aforementioned Detroit transportation plan: “Amazon was a wake-up call. Is Amazon so big that it can change the real estate game in a way that might suit Amazon? MORE
Crain's Detroit Business is reporting that Michigan First Credit Union (Lathrup Village, MI) sued Palace Sports & Entertainment and the Detroit Pistons. The complaint alleged that the Piston breached a 2016 sponsorship agreement, when it signed an exclusive agreement deal with Flagstar Bancorp over its move from the Palace of Auburn Hills to Little Caesars Arena in Detroit. MORE
The Ford GT showcases Detroit's recent focus on platform engineering — the configuration of common unibody structures and drivetrain components to create unique products that can appeal to disparate customers. MORE
The weakening car-loan market poses a big challenge for the Detroit-based lender, but it also could also present an opportunity, since other big banks are sharply reducing their exposure. Auto lending Consumer lending Subprime lending Delinquencies Deposits Ally Financial Ally Bank MORE
Quicken Loans plans to appeal a recent federal labor ruling that the Detroit lender and other companies owned by Dan Gilbert violated employees' rights. breaking_news law-regulation national-regional mortgage nonbank housing consumer-finance MORE
The new funding also saw participation from CU Solutions Group, Baird Capital, Detroit Venture Partners and Invest Michigan, the company said, adding that the round follows its self-funded $2 million in seed financing. “We FinTech Autobooks announced new funding to support its SMB banking solutions. Reports Monday (March 13) said Autobooks secured $5.5 million in Series A financing led by Draper Triangle. MORE
Detroit Lions Add Mobile Order-Ahead to the Playbook. To tackle the issue, the Detroit Lions are exploring whether mobile order-ahead for pickup can remove that pain for fans seated in its Gridiron Club section, as well as drive traffic to the four new restaurants available at the club. MORE
The Michigan Office of Financial and Insurance Regulation (OFIR) today liquidated Amez United Credit Union of Detroit, Mich., Originally chartered in 1961, Amez United Credit Union served registered members of the churches in the Detroit district of the Michigan Conference of the African Methodist Episcopal Zion Church. and appointed the National Credit Union Administration (NCUA) as liquidating agent. MORE
The online bank will consolidate all of its Charlotte-area employees into a new office tower, but its headquarters will remain in Detroit. CRE Online banking Consumer banking Ally Financial MORE
Personal Finance african american Debt Detroit Free Press Hispanic Millennials millinnials MinoritiesGabriela Santiago-Romero, 24, knows too well how easy it is for younger consumers to be late with making payments on credit card bills. MORE
Wayfair has plans to roll the Day of Delivery Tracking system out into new markets this year, including Cleveland, Denver, Detroit, Miami, Orlando and Richmond, according to the Chain Store Age reports. In retail news, home goods eTailer Wayfair announced Friday (Sept. MORE
Detroit Related Topics PYMNTS
MARCH 16, 2018
Detroit Lions Add Mobile Order-Ahead to the Playbook. To tackle the issue, the Detroit Lions are exploring whether mobile order-ahead for pickup can remove that pain for fans seated in its Gridiron Club section, as well as drive traffic to the four new restaurants available at the club.
PYMNTS
JANUARY 12, 2017
But you wouldn’t know it by looking at the lineup of this year’s North American International Auto Show in Detroit. High-riding, gas-guzzling, wide-bodied SUVs were more popular among U.S. and international drivers than ever in 2016. Half of the 20 new models unveiled this year were sedans, station wagons and coupes. Which seems odd, since SUVs, trucks and crossover models by far outsold traditional car models in 2016.
Perficient Financial Servies
APRIL 23, 2018
For those in the Detroit area, the Perficient office in Livonia is hosting the SouthEast Michigan Atlassian User Group (AUG) on April 24th. The AUG commonly meets in the Livonia/Detroit Perficient office for the Tuesday evening event, followed by an encore presentation at lunch the following day in Ann Arbor at the Ithaka office. The SouthEast Michigan AUG meets the last Tuesday of every other month for the 2018 year.
Mobile Payments Today
AUGUST 4, 2016
If there is one reason retailers must move forward with a mobile app strategy it’s this: consumers not paying in cash spend an average of 13 percent more when it’s a mobile payment experience
Keith Leggett's Credit Union Watch
MARCH 3, 2018
Crain's Detroit Business is reporting that Michigan First Credit Union (Lathrup Village, MI) sued Palace Sports & Entertainment and the Detroit Pistons. The complaint alleged that the Piston breached a 2016 sponsorship agreement, when it signed an exclusive agreement deal with Flagstar Bancorp over its move from the Palace of Auburn Hills to Little Caesars Arena in Detroit.
American Banker
APRIL 5, 2016
JPMorgan Chase, drawing from its experience in the Motor City, has created a $125 million program designed to help community development financial institutions make bigger investments in impoverished neighborhoods. national-regional strategic-alternatives dealmaking-strategy
PYMNTS
SEPTEMBER 15, 2017
Oakland, San Jose, San Francisco, Detroit, Austin, Boston and Chicago. Detroit. Amazon is opening a 1 million-square-foot warehouse in metro Detroit and plans to hire 1,000 employees to fill it. Amazon Amazon Concord Amazon Detroit Amazon Headquarters Amazon Jobs Amazon Mexico City Amazon offices Amazon San Diego Amazon warehouses ecommerce eCommerce giant international News Retail Whole Foods
BankThink
APRIL 16, 2015
Mortgage lenders are stressed about how the CFPB''s new mortgage disclosure rule will impact their business. But the new forms may give them a chance to improve business performance. law-regulation
ABA Community Banking
DECEMBER 2, 2016
Institutions see opportunity in Detroit, reversing trend of shrinking branch footprint Management M&A. 1Management
Bankaholic
NOVEMBER 13, 2015
TCF Bank is offering that deal to any Michigan resident who comes into one of its 50 Detroit area branches. Bankaholic has all of the best CD rates. CD Rates 18-month cd best cd rates certificates of deposit tcf bank
Let's Talk Payments
AUGUST 20, 2016
Discover Ranks highest in credit card customer satisfaction for third consecutive year DETROIT: 18 August 2016 — At least one in five credit card customers are carrying the wrong card, Cards Commerce Credit Unions News Payments Asia Europe insights US
Let's Talk Payments
MARCH 14, 2017
Detroit MI: Autobooks, a financial technology company that builds cash management tools to help small business owners, announced the closing of a $5.5
BankThink
JULY 27, 2017
The Detroit company is capitalizing on other banks' retreat from the auto sector. Auto lending Consumer lending Deposits Earnings Ally Financial Ally Bank
PYMNTS
JULY 9, 2018
The retailer said that a threat targeted the profiles of customers for nearly two months, Detroit Free Press reported. After Macy’s cyber tools detected suspicious logins on June 11, the retailer is warning customers about a data breach. In a letter to its eCommerce customers, Macy’s said that a third party was behind the suspicious activity, and that party had received information from a non-Macy’s source.
BankThink
SEPTEMBER 20, 2017
The online bank will consolidate all of its Charlotte-area employees into a new office tower, but its headquarters will remain in Detroit. CRE Online banking Consumer banking Ally Financial
BankThink
SEPTEMBER 11, 2017
The Detroit lender developed rotational training programs in auto finance, accounting and technology to help attract and keep promising employees, especially millennials, who had a tendency to bolt. Best Banks to Work For Community banking Training Employee retention
BankThink
JANUARY 30, 2018
The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending. Auto lending Auto leasing Deposits Earnings Consumer lending Subprime lending Ally Financial Ally Bank
CU Insight
JUNE 10, 2016
Personal Finance african american Debt Detroit Free Press Hispanic Millennials millinnials MinoritiesGabriela Santiago-Romero, 24, knows too well how easy it is for younger consumers to be late with making payments on credit card bills.
American Banker
JULY 26, 2016
Ally Financial in Detroit swung to a profit in the second quarter as a tax benefit outweighed the costs of insurance payouts on hailstorm-damaged vehicles. breaking_news consumer-finance earnings-national-regional-banks auto mi national-regional
PYMNTS
MAY 3, 2018
Detroit seemingly has made a direct overture to transportation issues as cited by Amazon, with that city having introduced a ballot initiative that would spawn a transportation network geared toward connecting counties and the city itself. Said Gerry Anderson, who serves as chief executive of DTE Energy, supported the aforementioned Detroit transportation plan: “Amazon was a wake-up call. Is Amazon so big that it can change the real estate game in a way that might suit Amazon?
CU Insight
MAY 2, 2016
Personal Finance Cameron Huddleston GoBankingRates The Detroit NewsPop quiz: Which of the following statements is true? Rich people are greedy. Money corrupts people. People get rich by taking advantage of others. Good people should not care about money. All of the above.
CU Insight
MARCH 27, 2016
Personal Finance brain Detroit News George Loewenstein Jennifer Calonia Saving MoneyWhile it seems like a utopian concept, the argument that some consumers could be addicted to saving money might not be as inconceivable as it sounds.
American Banker
JANUARY 4, 2017
Ally Financial in Detroit has agreed to provide up to $600 million in financial backing for Carvana’s online auto sales. breaking_news consumer-finance auto mi az national-regional
PYMNTS
JUNE 5, 2018
BMW’s North American CEO, Bernhard Kuhnt, spoke about the company’s plans for a subscription-type service at the Detroit Auto Show in January. In an effort to reach drivers who want the convenience and variety of a subscription, Mercedes-Benz is rolling out a pilot service called the Mercedes-Benz Collection. Drivers will be able to access Mercedes-Benz vehicles in Philadelphia and Nashville with the launch, the company said in an announcement. “We’re
American Banker
NOVEMBER 21, 2016
Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime mortgage backed securities in 2006 and 2007. breaking_news national-regional law-regulation auto mortgage mi consumer-finance
PYMNTS
JUNE 21, 2018
Lyft found that the most generous tippers were located in New York City, Atlanta, Detroit, Dallas, San Jose, Minneapolis, and Westchester County, NY. Uber , the ride-hailing company, has facilitated more than $600 million of payments in the form of tips to its drivers since it launched its in-app tipping service for drivers in 2017. According to a report , Uber had $50 million in tips in August, but that has grown since then.
American Banker
APRIL 19, 2016
Ally Financial has blasted a proxy advisory firm for its recommendation that shareholders vote against the re-election of four of the Detroit company's directors. breaking_news auto consumer-finance mi national-regional
American Banker
APRIL 12, 2016
Quicken Loans plans to appeal a recent federal labor ruling that the Detroit lender and other companies owned by Dan Gilbert violated employees' rights. breaking_news law-regulation national-regional mortgage nonbank housing consumer-finance
NetBanker
FEBRUARY 17, 2017
The three FIs are CommunityWide FCU ($395 million) of South Bend, Indiana; Advantage Plus FCU ($125 million) of Pocatello, Idaho, and One Detroit CU ($35 million) of Detroit, Michigan. So, how many credit union deals did you land this week?
PYMNTS
OCTOBER 2, 2017
Wayfair has plans to roll the Day of Delivery Tracking system out into new markets this year, including Cleveland, Denver, Detroit, Miami, Orlando and Richmond, according to the Chain Store Age reports. In retail news, home goods eTailer Wayfair announced Friday (Sept.
American Banker
MARCH 21, 2016
Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor. breaking_news consumer-finance dealmaking-strategy auto strategic-alternatives mi national-regional
Sageworks
JANUARY 15, 2015
• Detroit, Michigan – Flagstar Bank ($4.65 Flagstar Bank, headquartered in Troy, Michigan, just outside of Detroit, offered the largest volume of mortgage loans of the community banks identified, with more than four and a half billion dollars in mortgages.
BankThink
APRIL 27, 2017
The weakening car-loan market poses a big challenge for the Detroit-based lender, but it also could also present an opportunity, since other big banks are sharply reducing their exposure. Auto lending Consumer lending Subprime lending Delinquencies Deposits Ally Financial Ally Bank
American Banker
MARCH 30, 2016
Huntington Bancshares has partnered with the owner of the NBA's Detroit Pistons to provide $25 million in financial support in Flint, Mich., in response to the city's drinking water crisis. breaking_news consumer-finance m-a small-business mortgage mi oh national-regional
American Banker
APRIL 26, 2016
Ally Financial reported strong loan and deposit growth in the first quarter, but a shift in the makeup of its automobile loan portfolio force the Detroit company to nearly double its loan-loss provision from a year earlier. breaking_news national-regional performance auto consumer-finance
Independent Banker
SEPTEMBER 26, 2014
Urban Partnership Bank serves primarily lower- to moderate-income neighborhoods on Chicago’s south and west sides as well as in Detroit. In addition to operating a branch in Detroit and eight in Chicago, the bank opened one inside a Walmart store about a year ago. “In
PYMNTS
MARCH 14, 2017
The new funding also saw participation from CU Solutions Group, Baird Capital, Detroit Venture Partners and Invest Michigan, the company said, adding that the round follows its self-funded $2 million in seed financing. “We FinTech Autobooks announced new funding to support its SMB banking solutions. Reports Monday (March 13) said Autobooks secured $5.5 million in Series A financing led by Draper Triangle.
Celent Banking
APRIL 28, 2017
The Ford GT showcases Detroit's recent focus on platform engineering — the configuration of common unibody structures and drivetrain components to create unique products that can appeal to disparate customers.
PYMNTS
SEPTEMBER 12, 2016
This marked the first action of this kind by car manufacturers, but Carlin has been visiting auto manufacturers in Detroit to address cybersecurity and national security for driverless cars. Residents of Pittsburgh are about to see their city become the testing ground for Uber’s driverless cars, and perhaps, this once town of steel is sturdy enough to withstand any potential cyberattacks. According to Reuters , the U.S.
PYMNTS
FEBRUARY 2, 2017
While half of the 20 new models unveiled at this year’s Detroit Auto Show were sedans, station wagons and coupes, it seems that consumers weren’t convinced. We may have spoken too soon. Despite earlier auto show debuts to the contrary, it turns out the U.S. vehicle market in 2017 is still dominated by consumer interest in SUVs. Sales of cars and light trucks in the U.S. slipped 1.8 percent in January. The reason reportedly has something to do with whom automakers are choosing to sell to.
INDUSTRY INSIGHTS YOUR PEERS ARE READING
62 
Let's personalize your content