RBC reshuffles leadership, Miami de novo clears regulatory hurdle
Royal Bank of Canada reorganizes its executive leadership ranks; pending startup BankMiami gets approval from Florida’s Office of Financial Regulation; Rize Credit Union’s Julio Jimenez-Wenz joins Nevada Commission on Minority Affairs; and more.
How a payments startup eases college students into credit
Fizz offers a card that enables undergrads to slowly build a debt record based on healthy spending habits, providing an alternative as regulators pressure how financial services are marketed to the demographic.
Amalgamated Bank of Chicago rebrands as ABOC, eyes expansion
After its planned sale to a larger competitor fell through, the renamed bank plans to expand into new markets, starting with St. Louis.
Joint Press Release: Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
JOINT PRESS RELEASE | JULY 12, 2024 Federal Deposit Insurance CorporationFederal Reserve BoardOffice of the Comptroller of the Currency________________________________________________________________ AGENCIES RELEASE LIST OF DISTRESSED OR UNDERSERVED NONMETROPOLITAN MIDDLE-INCOME GEOGRAPHIES Federal bank regulatory agencies today released the 2024 list of distressed or underserved nonmetropolitan middle-income geographies where certain bank activities are eligible for Community Reinvestment Act […]
The Federal Home Loan banks can — and must — invest more in housing
With Americans suffering from high housing costs and declining supply, we cannot afford to watch a massive government-sponsored enterprise sit on billions in retained earnings.
Citi’s revenues rise amid growth across all business lines
Each of the megabank’s five business lines reported an uptick in profits for the second quarter of 2024. Growth in Citi’s banking segment, which includes investment banking, was particularly robust, up 30% year over year, the company said Friday.
Interest costs weigh on Wells Fargo’s profits again
Wells Fargo’s rising interest expenses showed little signs of letting up, pinching its net interest income below $12 billion for the first time since 2022.
JPMorgan sees investment banking fees up, loans flat in second quarter
Chairman and CEO Jamie Dimon said while the economic outlook is ‘benign,’ the bank remains ‘vigilant about potential tail risks.’
Growth in core business lines produces improved profits for BNY
The New York-based company saw assets under custody and management jump, driving strong increases in both fees and overall revenues for the quarter ending June 30.
HUD fair housing complaint against Appraisal Foundation settled
As part of the three-year agreement, the group will fund a $1.22 million scholarship fund to recruit minorities into the appraisal profession.