Concerns about New York Community mount after chief risk officer’s exit
The regional bank’s stock price again fell by double digits on Tuesday, marking the fourth daily decline of at least 10% in the last week. The latest shoe to drop was the news that Chief Risk Officer Nicholas Munson left the company early this year.
How Alliant Credit Union grew deposits by $500 million in 2023
The $18.5 billion-asset institution saw member growth increase by 22% year-over-year and fund levels surge in the first six months of last year after deploying a new deposit origination platform.
Why auto lenders are cautiously optimistic even as late payments rise
Car loan delinquencies are worsening across all age groups and income levels, as high interest rates and elevated car prices take a toll, according to the New York Fed. But executives at some large auto lenders remain relatively confident about their customers’ ability to stay afloat.
NCUA’s Harper: Large credit unions will report overdraft data
National Credit Union Administration Chair Todd Harper Tuesday revealed plans to mandate separate reporting of overdraft and nonsufficient funds fees for credit unions with over $1 billion in assets, which he said would enhance equity and transparency in fee structures.
Small-dollar loans are a vital lifeline to many Americans
Characterizing them as ‘schemes’ unfairly impugns a service that cash-strapped consumers value and have come to count on.
Barclays taps Na Wei to lead comeback in leveraged finance
The British lender has named the company veteran its global head of leveraged finance as it seeks to capture more business from the giants of private equity.
Regulators initiate regulatory lookback process
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency Tuesday issued the first in a series of requests for comment on all aspects of the regulatory apparatus as part of a required decennial review.
Yellen refuses to back banking agencies’ Basel play
Treasury Secretary Janet Yellen repeatedly demurred when invited to expound on the Basel III capital proposal, but didn’t hold back her criticisms of the Securities and Exchange Commission’s safeguarding rule and its consequences for banks’ custody businesses.
A painful year looms for issuers of middle-market consumer credit cards
Delinquencies and charge-offs are set to climb over the next several months, as lenders tighten underwriting policies and credit lines while facing downward pressure on late-payment fees.
Mike Gill, Housing Policy Council leader, dies following D.C. shooting
The senior vice president for capital markets at the Housing Policy Council died Saturday after sustaining critical injuries a week prior.