Fannie Mae cuts rate forecast, raises volume outlook
Fannie Mae also foresees more home sales than it did in June, but the Mortgage Bankers Association reduced its origination projections for 2025.
Press Release: FDIC Publishes Enforcement Orders for June 2025
PRESS RELEASE | JULY 25, 2025 FDIC Publishes Enforcement Orders for June 2025 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today published a list of orders of administrative enforcement actions taken against banks and individuals in June 2025. There are no administrative hearings scheduled for August 2025. Order Terminating Consent Order: Citizens State Bank, […]
AI is the clear answer to America’s financial literacy crisis
A huge percentage of Americans, particularly Gen Z and millennials, score poorly on financial literacy tests, with predictable consequences. AI-powered agents would help empower them.
Flagstar’s losses shrink as bank looks toward profitability
The Long Island-based company’s second-quarter net loss was the seventh consecutive quarter in which it has reported a net loss. CEO Joseph Otting remained optimistic Friday about the bank’s future, saying it should return to profitability in the fourth quarter.
Not over yet: Office loans are still inflicting pain
Eagle Bancorp in Maryland took a major quarterly loss due to challenges in its office loan portfolio. It’s one of many banks working to trim down their commercial real estate loan books.
Trump, Powell tussle over renovation costs in rare visit
President Trump and Senate Banking Committee Chair Tim Scott, R-S.C., visited the Federal Reserve Board headquarters Thursday afternoon to inspect ongoing renovations whose cost overruns have heightened scrutiny of Fed chair Jerome Powell.
Pinnacle, Synovus to merge; deal would create $116B bank
The two Southeast banks agreed to combine in a transaction valued at $8.6 billion. Synovus CEO Kevin Blair would be chief executive of the combined bank, but a slim majority of board members would come from Pinnacle.
In rare move, Flagstar seeks to dissolve its holding company
Flagstar Bank wants to merge its holding company into the bank, which would cut $15 million in annual expenses and eliminate regulatory oversight by the Federal Reserve, leaving the OCC as its primary regulator. The bank’s CEO, Joseph Otting, is a former comptroller of the currency.
How the Fed is managing payments’ ‘new GPS’
Fedwire has migrated to ISO 20022, a messaging standard designed to make it easier for digital real-time processing rails to work together. It’s a difficult lift for banks, but the agency promises it will be worth it.
Bread still watching inflation even as its credit improves
Bread Financial continues to keep its eye on the potential inflationary impacts of the Trump administration’s trade policies, despite the fact that its delinquencies and losses declined in the second quarter.