Improved credit quality at M&T helps push earnings higher
During the fourth quarter, the Buffalo, New York-based bank reported its lowest ratio of nonperforming loans to total loans since 2007.
Senate Dems probe banks on role in Trump’s Venezuelan oil plans
Warren, Wyden, Whitehouse, Welch and Schatz say administration’s memo contradicts public statements, want more answers on whether the administration is working with top U.S. banks to funnel money out of the South American nation.
Voluntary ‘Trump card’ idea lowers risk of legislation
White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue “Trump cards” with 10% rate caps, a move that could quell Congress’ moves to impose a cap through legislation — but that’s no guarantee.
While banks trash card restrictions, merchant lobbyists are cheering
Merchant groups are not taking a position on President Donald Trump’s threats to cap interest rates, but they are bullish on the president’s endorsement of the Credit Card Competition Act.
Fed’s Bowman ‘continues to see downside risk’ to labor market
Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.
If policymakers really support small banks, they have one obvious task
Data collected by the Conference of State Bank Supervisors demonstrates a huge disparity in compliance costs between large and small banks. Policymakers in Washington who claim to support community banks must act to reduce regulatory burden.
Upstate NY lender to buy bank with funeral-planning focus
Community Financial in Syracuse has agreed to purchase a small bank that’s built its business model around end-of-life planning.
Bilt, Affirm aim to capitalize on proposed credit card rate cap
Bilt’s new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.
Dip in mortgage rates gives First Horizon a boost
First Horizon’s loans to mortgage companies in the fourth quarter rose at the fastest clip in more than two years, as the housing market showed small signs of revival.
Portage takes over fintech investments from Point72 Ventures
The fintech investment firm Portage is now managing a $280 million portfolio acquired from the venture arm of Mets owner Steven Cohen’s firm Point72.