Bank of America reversed recession call on strong jobs and spending, CEO says
BofA is the first large Wall Street bank to officially reverse its call amid growing optimism about the economic outlook.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | AUGUST 3, 2023 FDIC Issues List of Banks Examined for CRA Compliance WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2023. The […]
The Home Loan banks’ mission is vital. They must stay the course
Critics of the Federal Home Loan banks fundamentally misunderstand the purpose and necessity of the system.
Kansas City Fed names veteran banker and regulator as chief
Jeffrey R. Schmid will assume Esther George’s former role on August 21.
Will new U.S. debt downgrade reverberate more than the one 12 years ago?
While financial markets wobbled after Fitch Ratings reduced the U.S. government’s credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poor’s in 2011. JPMorgan Chase CEO Jamie Dimon argued that Fitch’s action “doesn’t really matter that much.”
HomeStreet Bank is said to explore options including sale
The Seattle bank, which has lost about two-thirds of its market value this year, is also said to be considering raising capital and selling assets.
Figure, Mike Cagney’s blockchain startup, withdraws bank-charter application
A Figure spokesperson said the decision to withdraw the banking charter application was to enable the company to focus on other areas of growth.
Wells Fargo to tap corporate bond market despite U.S. credit downgrade
This is the third time the Wells Fargo has tapped the bond market in recent weeks. The bank previously raised $8.5 billion and $1.7 billion of bonds after the lender’s second-quarter earnings beat estimates.
HSBC’s U.S. arm faces HUD probe over redlining allegations
The Department of Housing and Urban Development is reviewing HSBC’s lending practices in certain majority Black and Hispanic neighborhoods, the bank disclosed. The regions under scrutiny include New York, Seattle and several parts of California, according to the nonprofit organization whose complaint prompted the investigation.
Dimon calls higher U.S. capital rules ‘hugely disappointing’
The measures will make certain activities such as mortgages and small-business lending harder for banks, Dimon said.