Fifth Third leans on fee income as loans stagnate
The Cincinnati, Ohio-based bank aimed for consistency in its third quarter, taking advantage of its lines of business that aren’t tied to interest rates.
NYCB’s Flagstar cuts 700 staff with more to depart in unit sale
The company expects that a previously announced sale of its residential mortgage servicing business will reduce its workforce by an additional 1,200 employees when the transaction is completed this quarter.
Ally’s profits jump despite rising strains from auto borrowers
The Detroit company’s charge-offs from consumer auto lending rose to 2.24% of loans, up sharply from 1.85% a year earlier. Its stock took a hit last month after it warned about growing customer stress.
Buffett sells more BofA shares after buybacks push his stake back above 10%
Berkshire Hathaway reaped about $370 million selling the stock, marking Warren Buffett’s 16th round of disposals since mid-July.
Amex’s earnings beat estimates, even as delinquencies rise
The credit card lender posted record revenue on strong consumer volume and raised its guidance, though it’s also reporting signs of economic stress among its borrowers.
TD money laundering scandal revives allegations of Too Big To Jail
TD Bank’s guilty plea to extensive money laundering charges last week did not include any criminal charges against individual bank executives. That absence has critics fuming, but experts say bringing charges against individuals isn’t so easy.
OCC tells Florida community bank to step up AML oversight
The regulator cited Axiom Bank for unsafe and unsound practices as well as violating the Bank Secrecy Act and anti-money laundering requirements.
Statement by Vice Chairman Travis Hill on Board Merger and Deposit Insurance Application Review Process
STATEMENT | OCTOBER 17, 2024 Statement by Vice Chairman Travis Hill on Board Merger and Deposit Insurance Application Review Process On June 20, 2024, the FDIC Board approved a resolution I proposed to require recurring briefings to the full Board on any merger or deposit insurance application (“covered application”) outstanding for more than nine months. […]
UPDATED: FDIC Board of Directors Meeting
BOARD MEETING | OCTOBER 17, 2024 (Updated the link in the Read More button) FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporation’s Board of Directors met. Materials and information relative to the Board actions are available here. A recording of the full webcast of the open meeting is available here. Read more […]
FDIC Board of Directors Meeting
BOARD MEETING | OCTOBER 17, 2024 FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporation’s Board of Directors met. Materials and information relative to the Board actions are available here: A recording of the full webcast of the open meeting is available here. Read more The FDIC does not send unsolicited e-mail. If […]