Regulators finalize guidelines for challenging property appraisals
The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.
Texas Capital misses on earnings, executives cite weak loan demand
The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.
Discover ties up loose ends ahead of Capital One acquisition
The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.
Joint Press Release: Agencies Finalize Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations
JOINT PRESS RELEASE | JULY 18, 2024 Consumer Financial Protection BureauFederal Deposit Insurance CorporationFederal Reserve BoardNational Credit Union AdministrationOffice of the Comptroller of the Currency________________________________________________________________ AGENCIES FINALIZE INTERAGENCY GUIDANCE ON RECONSIDERATIONS OF VALUE FOR RESIDENTIAL REAL ESTATE VALUATIONS Five federal regulatory agencies today issued final guidance addressing reconsiderations of value (ROVs) for residential real estate […]
Why is JPMorgan banning credit cards for BNPL payments?
The bank plans to turn away transactions for apps like Afterpay, Affirm, Klarna and others. Its move comes as these third parties face increasing scrutiny from regulators and industry wide concerns over risk.
New AI tools aim to save Wall Street research analysts time
Factset, Brightwave and Bloomberg are among those offering generative AI models that do research legwork. But Wall Street firms have lately been taking a harder look at the cost and return of gen AI.
Loper Bright and Cantero are ushering in a new era of preemption
Two recent Supreme Court rulings, Loper Bright and Cantero, are likely to upend the Office of the Comptroller of the Currency’s long standing approach to federal preemption of state banking laws, experts say.
Falling mortgage rates not spurring housing activity yet
Even though the 30-year fixed rate mortgage is at its lowest level since mid-March, consumers are being cautious in returning to the market, Freddie Mac said.
Synovus posts loss on securities sale, but bolsters fee income
The Georgia-based bank recorded a $257 million hit after unloading a bundle of securities that it expects to redeploy into higher-yielding assets. It also forecast a resumption of loan growth in the second half of the year.
House weighs bank AI legislation in bipartisan report
Reps. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif., who run the House Financial Services Committee, today released their report on artificial intelligence in the financial industry.