St. Louis Fed names new president
Alberto Musalem, a finance professor with experience in both the public and private sectors, will take over the reins at the regional reserve bank in April.
The Fed’s balance sheet drawdown may be happening faster than expected
Federal Reserve officials point to overnight reverse repurchase agreement activity as an indication of excess liquidity, which the central bank is working to reduce. But some analysts say that excess liquidity may be drying up faster than expected, with important implications for banks.
Ripple effects of New York Times’ suit of OpenAI, Microsoft
Users of large language models and generative artificial intelligence need to be aware of the content and data those models are trained on, and be wary of potential infringement of copyright law.
A look into Jeffrey Epstein’s impact on the banking industry
In the wake of the disgraced financier’s downfall, executives at JPMorgan Chase, Barclays and Deutsche Bank have continued to draw the ire of federal regulators and weather millions of dollars in fines and settlement costs.
Mortgage rate drops likely this year, economists say
But this week the 30-year fixed rate mortgage average increased for the first time in two months.
What New York Gov. Hochul’s pressure on BNPL means for lenders
The governor’s proposed license for buy now/pay later lending adds momentum to the efforts to rein in the fast-growing and unregulated product.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | JANUARY 4, 2024 FDIC ISSUES LIST OF BANKS EXAMINED FOR CRA COMPLIANCE WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in October 2023. […]
FedNow fraud is coming … and banks aren’t ready
Banks have a simple choice: Either invest in fraud controls to prepare for FedNow, or expect draconian supervisory measures that will increase friction and confuse customers.
World’s biggest banks made $3 billion on green debt in 2023
European banks led the transition, with BNP Paribas topping Bloomberg’s green debt league table. Meanwhile, Wall Street dominated fossil finance, with Wells Fargo and JPMorgan Chase generating the biggest earnings from oil and gas deals.
Bankers of the Year: Where are they now?
Here are six luminaries who have won this American Banker award since 2010. Some continue to lead banks, while others have run into trouble.