Fed rate cut draws applause—and caution—from bankers
Bank executives and industry advocates welcomed the Federal Reserve’s interest rate reduction but warned that careful planning for future drops is necessary to avoid creating market turmoil.
The substance and process of finishing Basel are one in the same
The revised edition of the Basel III endgame capital rules has been stuck in limbo at the Federal Deposit Insurance Corp. board of directors. The issue there seems to be about the process of reproposal — but the process dictates the substance of the rule.
Citi to move risk models, workforce and customer apps to Google Cloud
Through a multiyear agreement, Citigroup is cloudifying the way it delivers software to employees, customers and its markets business.
SoFi boosts profit forecast again amid financial services push
The San Francisco-based fintech reported record adjusted net revenue of $689 million for the third quarter, fueled by a 64% jump in its financial services and tech platform segments.
Help young workers see your on-the-job coaching as an investment
If you want your constructive criticism to land the right way with younger employees, it’s important that they see it as evidence of your belief that they have a future in your bank.
Fannie Mae, Freddie Mac gear up for g-fee change
Freddie Mac also indicated that it will be proceeding with its closely watched second-lien pilot, while Fannie reported gains in serving credit invisible borrowers.
FHFA announces updates to appraisal, repurchase rules
Positive feedback from participants in existing programs led to the decision to expand them in order to assist more lenders.
PayPal’s AI bet boosts its recovery
The payment company’s high-tech Fastlane checkout system helped third-quarter adjusted earnings best Wall Street’s expectations, though analysts expressed some concern about momentum carrying into 2025.
Finding BaaS talent is elusive, expensive — and essential
Community banks will have to pay more, get creative and train from within to build robust banking-as-a-service divisions that can withstand higher regulatory standards.
How James Gorman transformed Morgan Stanley after the financial crisis
Gorman is stepping down as the bank’s chairman at the end of the year. Here’s a look at how he rebuilt Morgan Stanley with a focus on wealth management.