Trump seeks 43% cut to HUD in 2026 budget plan
The administration is pitching a $26.7 billion reduction to the regulator’s funding for rental assistance, public housing and elderly and disability housing.
Deal would give Nebraska’s FNBO a leg up in Kansas City
Acquiring Country Club Bank would give Omaha-based FNBO 30 branches and nearly $3 billion of deposits in one of the Midwest’s biggest markets.
Vectra Bank Colorado’s president retires
Vectra Bank Colorado President Bruce Alexander is retiring after 25 years with the bank; Unilever Federal Credit Union in New Jersey was shut down by NCUA; Vista Bank hired Bob Mahalik in preparation for Texas bank M&A; and more in this week’s banking news roundup.
What’s driving banks’ low say-on-pay vote tallies
Truist, Texas Capital and Citizens Financial are among the banks that will be forced to address shareholder dissatisfaction over executive pay.
Robust jobs report gives Fed more reason to stay put
The Bureau of Labor Statistics reported that the economy grew 177,000 jobs in April, beating expectations and giving the Federal Reserve little reason to adjust interest rates in the near term.
Outdated accredited investor rules block many from building wealth
With vast amounts of capital locked in privately held companies, both employees of those companies and average investors would benefit from a loosening of the rules restricting private investment.
US job growth tops forecasts with robust 177,000 addition
The unemployment rate held steady at 4.2%, suggesting uncertainty over President Donald Trump’s trade policy has yet to materially impact hiring plans.
Why banks aren’t trimming their capital levels just yet
After building capital for years in anticipation of higher requirements, banks now face a lighter regulatory outlook under President Trump. But experts don’t expect capital levels to come down quickly.
Surprise Cash App slowdown spurs Block’s earnings miss
Unexpected changes in spending patterns on the P2P app caused the company to miss internal and analyst targets, resulting in a more cautious shift in its annual guidance and a plummeting stock in afterhours trading.
Trump’s CFPB guts rule mandating small business loan data
The Consumer Financial Protection Bureau will not enforce or supervise the 1071 small business lending rule, it announced in a press release. The rule requires collecting data on the race, ethnicity, gender and LGBTQ status of loan applicants.