Rep. Hill takes aim at Biden administration’s moves on fintech
Rep. French Hill, the No. 2 Republican on the House Financial Services Committee, promised bankers Tuesday that he will continue to push back against Biden administration regulators, especially on bank-fintech partnerships and digital assets.
‘Liar’s Poker’ wears its age well after 35 years
Though written before the internet era, the book about working at Salomon Brothers in the 1980s that launched Michael Lewis’ writing career still holds important lessons about the true costs of success.
Fannie Mae single-family volume drops close to 24-year low
But strong g-fees, a positive credit-loss adjustment and stable home prices bolstered results despite declines in mortgage purchases to lows not seen in some time.
HSBC’s CEO is stepping down. Who’s in the running to replace him?
Noel Quinn is leaving after four years in the role. It’s the third time in six years that HSBC has had to look for a new chief executive.
Discover’s AI use, Synapse’s bankruptcy: Top tech news for April 2024
In this month’s roundup of top tech news: The impact of Synapse’s bankruptcy on the banking-as-a-service industry, large language models best suited for banks, Discover deploys generative artificial intelligence in its contact center and more.
Property-level climate risk scores are unreliable and harmful
Climate models that purport to assess the risk of environmental damage faced by individual properties threaten to distort the market, despite having little demonstrable accuracy.
Hope Bancorp to buy Hawaii bank in $79 million deal
The Los Angeles-based company, which focuses on Korean Americans, said the acquisition of Territorial Bancorp will allow it to expand its customer base.
Fulton details Philly boost it’s getting from Republic First takeover
The first bank failure of 2024 will result in the Lancaster, Pennsylvania-based Fulton nearly doubling deposits in Philadelphia, a market it has viewed as strategically important for several years.
UMB Financial to acquire Heartland Financial for $2 billion
The combination of the two regional banks is set to create a $64.5 billion-asset company with a 13-state footprint across parts of the Midwest, South and West.
The Fed is talking, but markets still hear what they want to hear
Banks and other financial market participants have been keyed into the central bank’s communications around monetary policy expectations. But in an unpredictable economy, the guidance doesn’t always hit the mark.