Fed’s Miran downplays inflation risks, rethinks rate cuts
Federal Reserve Gov. Stephen Miran Thursday said that the Iran war and tariffs will not have long term impacts on inflation, but did say he is reconsidering his rate cut outlook for the year.
OCC moves to block Illinois ban on swipe fees on taxes, tips
The Office of the Comptroller of the Currency sent an interim final rule to the Office of Management and Budget that would preempt a controversial Illinois state law banning the collection of interchange fees on taxes and tips interchange.
Mortgage rates hit 4-week low on Iran conflict news
This week’s Freddie Mac mortgage rate survey shows rates at the lowest in four weeks, but homebuyers are giving mixed signals even with improved purchase power.
Citizens delivers solid first quarter, aided by NII uptick
The Providence, Rhode Island-based bank’s net income rose 39% during the first quarter. Higher net interest income and continued growth in its still-fledgling private bank were factors.
Growth in loans and fees pushes U.S. Bancorp’s profits higher
The Minneapolis-based company boosted revenue, kept operating expenses in check, and beat analysts’ first-quarter earnings expectations.
BNY posts record revenue, gets boost from market volatility
America’s oldest bank enjoyed a 33% increase in its bottom line, as economic turbulence fueled business and the company’s efforts to improve efficiency and boost cross-selling paid dividends.
Foreclosures ‘could signal shifting housing market dynamics’
Quarterly filings are far from historic highs but rising more consistently, with concentrations in Florida, California and Texas, Attom’s latest numbers show.
Early Warning Services adds identity security unit Certos
The bank-owned fintech has been under immense pressure to do more to combat fraud and scams on its peer-to-peer network, and is hoping to bring more public visibility to what the company says has always been its historical backbone.
Banks won’t get serious about climate risk until GSEs make them
Banks are currently underwriting mortgages based on one-year property insurance contracts. The Federal Housing Finance Authority should use its influence to build longer-term climate risk assessments into loans.
The local bank branch is not quite dead
JPMorganChase, Bank of America, and PNC are all investing money into new branches; actual, physical branches. Not many, but they are doing it.