Mortgage rates move higher on systemic volatility
Instability in mortgage rate movements should continue in the weeks ahead, even with Fed Chairman Jerome Powell’s comments on inflation.
FDIC proposes agency guidance requiring more scrutiny for bank mergers
The FDIC proposed a new policy to intensify scrutiny on U.S. bank mergers Thursday that emphasizes the resulting institutions’ financial stability and ability to serve its community’s needs.
SBA critics pounce on setback for fintech participation in 7(a)
Funding Circle, one of the fintechs that received an SBLC license last fall, lost $5 million in 2023 and plans to focus on its U.K. operations. Republican skeptics of the SBA seized on this, and Administrator Isabel Casillas Guzman’s renewed push for the agency to make direct loans.
FDIC Board of Directors Meeting
BOARD MATERIALS | MARCH 21, 2024 FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporation’s Board of Directors met in an open session. The agenda includes: Proposed Statement of Policy on Bank Merger Transactions. Materials and information relative to the Board action are available here: Proposed Statement of Policy on Bank Merger Transactions […]
Barclays readies hundreds of job cuts in investment bank
Barclays has long faced questions from investors about the viability of its Wall Street operations because the investment bank consumes more capital than other, higher-returning divisions across the firm.
Justice Department sues Apple in antitrust case over iPhone, payments
The U.S. Justice Department and 16 attorneys general sued Apple Thursday, accusing the iPhone maker of violating antitrust laws by blocking rivals from accessing hardware and software for digital wallets and other features.
Coming soon: Buy The People, a Bankshot season on populism in finance
American Banker editor-in-chief Chana Schoenberger and Washington bureau chief John Heltman talk about the new season of Bankshot, which explores how populism has emerged as a driving force in financial regulation.
CBO called out the Federal Home Loan banks. It’s now up to Congress.
The questions about whether the Home Loan banks receive a public subsidy has been settled. All that remains is for lawmakers to take steps to redirect that subsidy toward public benefits rather than corporate profits.
Why bank stocks still have plenty of upside
A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.
Sen. Tester appeals to bankers amid political campaign
At an American Bankers Association event, Sen. Jon Tester, D-Mont., who’s up for reelection this year, said that he hopes the Durbin-Marshall credit card bill won’t go anywhere and criticized the Federal Reserve’s debit interchange proposal.