Edward Robinson, head of Fifth Third Mortgage, sees technology as the differentiator of mortgage origination and servicing performance. Robinson discusses lending to low- and moderate-income homebuyers and challenges in mortgage servicing.
Fifth Third Bank's Express Banking service, launched in November, offers a debit card and has no overdraft charge. It also has no checks and no monthly fee and requires no minimum balance. The service is exceeding projections. "That's an indication for us that this is truly meeting customer needs," said Chad Borton, Fifth Third's head of consumer banking and a CBA board member.
Tayfun Tuzun, the new chief financial officer for Fifth Third Bancorp, in this article discusses the challenges of the job, which include regulatory probes, slower revenue growth and low interest rates. He replaced Daniel Poston, who was reassigned after an investigation by the Securities and Exchange Commission into the bank's commercial real estate loan practices.
Fifth Third CEO Kevin Kabat says that because of their immediacy and ubiquitous nature, Facebook and Twitter are more effective than the Consumer Financial Protection Bureau at keeping banks in line with customers. "While we embrace our regulatory compliance responsibilities with respect to all we do, the court of public opinion and market needs drive our decisions to provide attractive and fairly priced products," Kabat said Monday at a regulatory symposium.