Mortgage rates rise on anticipation of economic news
But following the gross domestic product and personal consumption expenditures reports, Treasury yields and mortgage rates fell.
First Citizens gets earnings lift from SVB clients returning to the fold
The Raleigh, North Carolina-based bank grew loans and deposits in the second quarter as it won back business from former customers of the failed Silicon Valley Bank. First Citizens bought the remains of SVB last spring.
Mr. Cooper buy of Flagstar servicing tilts the scales toward nonbanks
Third-party origination operations are also going to Mr. Cooper in the $1.4 billion deal, in which the seller cited interest in improving its capital position.
Don’t fall for the false promises of federal preemption
The siren song of greater regulatory uniformity will lead the industry to disaster, as the kind of innovation that benefits consumers is stifled.
Is Target’s ban the beginning of the end for checks?
The big box retailer’s move comes amid a broader decline for the traditional payment option.
NYCB reports quarterly loss, plans to sell mortgage servicing unit
New York Community Bancorp reported a net loss of $323 million for the second quarter as it further boosted its provision for credit losses and recorded a steep increase in net charge-offs. The parent company of Flagstar Bank also plans to sell its residential mortgage servicing business to Mr. Cooper.
Puerto Rico’s Popular trims expectations for loan growth on mainland
The $72.8 billion-asset bank lowered its guidance for net interest income, explaining that while business prospects on the island are relatively rosy, its stateside opportunities for loan growth look weaker.
New York Community leans on CEO’s connections as it revamps leadership
The embattled Long Island-based bank announced the hiring of nine new senior executives. Most of them have ties to CEO Joseph Otting, who previously held the top job at the OCC and OneWest Bank.
Sunshine Meeting Notice: FDIC Board of Directors Meeting
SUNSHINE ACT NOTICE | JULY 24, 2024 The FDIC Board of Directors will meet in open session: Time and Date: 10:00 a.m. on Tuesday, July 30, 2024. Place: This Board meeting will be open to public observation only by webcast. FDIC Board Members and staff will participate from FDIC Headquarters, 550 17th Street, NW, Washington, […]
FDIC’s Hill pushes Basel reproposal, expanded brokered deposits
Federal Deposit Insurance Corp. vice chair Travis Hill has called for a full re-proposal of the Basel III endgame capital standards, emphasizing the need for joint advancement by all three major federal banking agencies and an additional comment period for industry feedback.