Trump picks Ken Kies for key tax policy job at Treasury ahead of cuts push
President-elect Donald Trump has announced members of his senior leadership team at the Treasury Department, who’ll work alongside Scott Bessent, his pick for secretary.
FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | JANUARY 3, 2025 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 October 2024. […]
What banks can learn from the Treasury breach
Financial institutions need to beware of advanced persistent threats and of the potential security shortcomings of their vendors, experts say.
FHFA, Treasury amend GSE conservatorship agreements
The changes add some steps that would have to be taken before Fannie Mae and Freddie Mac could exit following statements from a Trump ally indicating plans for a near-term release.
Morgan Stanley is latest to leave climate-banking group
Bank of America, Citigroup, Wells Fargo and Goldman Sachs have also withdrawn from the Net-Zero Banking Alliance in the past month, as President-elect Donald Trump prepares to take office.
Hedge fund billionaire certain of near-term GSE exit
Bill Ackman, founder of Pershing Square Capital Management, predicts Fannie Mae and Freddie Mac will be removed from conservatorship within the next two years.
Mortgage rates likely to go back over 7% as they rise again
The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.
SouthState closes Texas acquisition, passing $50 billion of assets
The Florida company completed its purchase of Independent Bank, increasing its liability sensitivity and jumping to $65 billion in assets.
Patriot National recruits new president to assist with capital raise
The Stamford, Connecticut-based bank hired Steven Sugarman to be its president. The former bank CEO, who now heads one of the country’s largest mission-based lenders, will help drive an effort to close a capital gap.
AI drives tech companies to take the nuclear option
Data center operators and users such as banks need to plan now for AI’s growing power needs.