Powell acknowledges Fed could have ended Covid-era QE sooner
Federal Reserve Chair Jerome Powell acknowledged skepticism around the central banks large-scale asset purchases during the pandemic, noting the Fed likely “should have stopped” sooner, but fell short of admitting that the purchase of MBS’ contributed to housing disparities.
How late fintech pioneer Doug Lebda built LendingTree
Lebda, who died over the weekend in an ATV accident, built one of the first online financial marketplaces in 1998.
Dimon on auto lender Tricolor collapse: ‘Not our finest moment’
JPMorganChase CEO Jamie Dimon said that his bank can improve its procedures to guard against fraud.
U.S. Bank wins Anchorage stablecoin, renews crypto plans
The bank is the custodian for Anchorage’s stablecoin platform, it’s thinking of issuing its own and it’s relaunching bitcoin custody, among other efforts.
Fed’s Bowman: New stress test proposals coming soon
Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that the central bank would unveil proposed revisions to its stress testing regime “in the next week or so.”
Wells Fargo’s earnings aided by consumers, capital markets
The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.
Pulte responds to Democrats on FHLBs, meeting transparency
The housing agency director told Sen. Cortez Masto a Federal Home Loan Bank reform review is ongoing and took issue with Sen. Warren’s inquiries about meeting transparency.
The CDFI boom is over. Now it’s time to reckon with the future
Community Development Financial Institutions grew rapidly in recent years. Now, though, they face a slowdown. All CDFIs will have to get leaner and more efficient. For many, mergers might be the best solution.
Citi tops Wall Street forecast, led by investment banking
The megabank’s third-quarter net income rose 16% year over year, reflecting higher revenues across all five business lines.
Goldman Sachs exceeds forecasts in ‘improved’ environment
Goldman enjoyed solid growth to both its net income and earnings per share in the third quarter. The Wall Street giant credited a generally brightening economic backdrop.