CVB in SoCal strikes deal to boost Bay Area presence
The merger with Heritage Financial joins two commercially focused banks, creating a $21.7 billion-asset institution with a presence in all of the Golden State’s major markets.
Inflation slows to 2.7% in surprise November CPI report
The Bureau of Labor Statistics Thursday indicated that the Core Consumer Price Index indicated that inflation rose by only 2.7% in November versus a year ago, a pace that is the slowest rate of price increases since 2021.
The stablecoin yield fight still rages, but on a new battlefield
Banks are unlikely to get the language of the GENIUS Act amended to better defend deposits. But Noelle Acheson explains how that doesn’t mean they won’t get what they want.
Bessent: Fannie, Freddie offering hinges on MBS spreads
The Treasury official renewed a pledge to avoid hurting how mortgages trade in a Fox Business News interview as a new study highlighted one way to do that.
Despite a tough year, SBA’s popularity with lenders endures
Banesco USA in Miami is among the banks that are eyeing the government-guaranteed lending program as a source of growth.
Ex-Iberiabank CEO leads group that plans to buy La. bank
Daryl Byrd, who led Iberiabank until it was acquired by First Horizon, has assembled an investor group to acquire MC Bancshares and its subsidiary, MC Bank & Trust Co. in Morgan City, Louisiana. Byrd will become CEO.
Tricolor indictment alleges nearly $1B defrauded from banks
Nine banks and lenders were impacted by the yearslong, $923 million fraud enterprise, according to an indictment of top Tricolor executives. The banks were not publicly named, but JPMorganChase, Fifth Third, Barclays, Louisiana-based Origin Bancorp and Texas-based Triumph Financial have said they would take write-downs.
Bipartisan agreement emerges on bank resolution reform
The House Financial Services Committee unanimously passed bills that would give the Federal Deposit Insurance Corp. more options in resolving failed banks, including by waiving the “least-cost resolution” requirement in some circumstances.
Appeals court agrees to rehear CFPB union’s case
A federal appeals court agreed to have the full bench rehear arguments by the Consumer Financial Protection Bureau’s union about whether the Trump administration planned to gut the agency through mass firings.
Banks get new federal guidance on AI cyber risks
The National Institute of Standards and Technology’s preliminary draft helps banks integrate artificial intelligence into their existing security strategies.