How CDFIs can help fix America’s housing affordability crisis
The same creativity and flexibility that community development financial institutions bring to business lending ought to be applied to financing affordable housing.
Fulton Financial promotes execs as it digests Republic First
The parent company of Fulton Bank announced the creation of three new management roles and promoted existing employees into those jobs. The changes follow the recent hiring of an outsider to be CFO.
The yen carry trade is unwinding, raising U.S. recession risks
The Bank of Japan’s interest rate hike and plan for quantitative tightening have international markets scrambling to adjust to a new reality in which carry trade credit is tighter and a U.S. downturn is somewhat more likely.
Harris VP pick Walz brings progressive but pragmatic edge to campaign
Governor Tim Walz, who Vice President Kamala Harris selected as her running mate Tuesday, has a slight but progressive record on financial policy, suggesting a potential leftward shift in banking policy in a prospective Harris administration.
Wave of new hires speeds Dime’s commercial transformation
The Long Island-based thrift, long associated with multifamily and CRE lending, saw business lending spike the past year as it onboarded 15 banking teams. Other banks that did significant hiring have also reported more deposits and wider margins.
Texas Capital Bank hops on private credit boom
The Dallas-based bank is the latest bank to announce plans for a direct lending rollout using non-bank capital.
MoneyLion stock dips despite positive second-quarter earnings
During a market rally following Monday’s correction, MoneyLion was left behind despite beating analyst expectations and issuing a positive outlook.
Federal Home Loan Banks face amped-up pressure from Biden administration, senators
President Joe Biden’s administration and Senate Democrats are ramping up pressure on the Federal Home Loan Bank system to pump more money into solving the nation’s housing crisis.
Former Nebraska bank president lands in prison for loans to a relative
Jack Poulsen, the former president of Ericson State Bank in Nebraska, was sentenced to 18 months in prison for bank fraud involving loans to a relative that led to the rural bank’s collapse.
More Americans are tapping home equity credit lines, NY Fed says
High borrowing costs led to fewer mortgage originations in the second quarter, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit released Tuesday.