Freddie Mac names Diana Reid as permanent CEO
The successor to Michael Hutchins, who filled the role on an interim basis, guided a well-known bank’s real estate business through the financial crisis.
Regulators ready to narrow scope, lower capital in Basel III re-proposal
Federal Reserve Vice Chair for Supervision Michael Barr outlined the changes he and other regulators would like to see to the capital reform plan, including largely excluding banks with less than $250 billion of assets.
The FDIC should avoid a fact-free debate on brokered deposits
The agency’s recent proposal to redefine “brokered deposits” requires a debate over the performance of different kinds of bank deposits. The problem is that the necessary data isn’t available yet.
Bank of America raises minimum wage to $24 an hour
BofA is taking the next step toward a 7-year-old goal of paying $25 an hour by 2025.
Huntington to provide corporate mortgage asset financing
The bank has brought about mortgage industry veteran Ken Logan as senior managing director to head this new business line
The top 20 banks by reputation
After a turbulent 2023, regional banks are gradually restoring public trust in 2024, with confidence in financial stability rising alongside calls for stronger government regulation, ethical practices, and capital reforms to prevent future crises.
The public is regaining trust in regional banks
The banking industry’s public reputation recovered moderately in 2024 after a string of regional bank failures depressed confidence in the industry the year prior.
It’s time for the US to withdraw from the Basel capital accords
The Basel capital rules long ago proved themselves to be ineffective and unwieldy. A former FDIC chairman said that history offers us a better alternative in the form of a regulator-centric model rooted in a pre-Basel approach to oversight.
Key uses Scotiabank cash to offload billions in low-yielding bonds
Profits at Cleveland-based KeyCorp have suffered due to bonds it bought when interest rates were low. But a recent investment by Canada’s Scotiabank gave Key more wiggle room — an early benefit of a deal that both companies hope to build on.
New York community banks reach $236 million deal to merge
The all-stock transaction is slated to close in the second quarter of 2025. It would create a bank with more than $15 billion of assets.