Fannie Mae extends rent reporting pilot through end of 2024
The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.
Government shutdown threat adds to flood risk worries
If a federal budget impasse re-emerges, it may increase insurance concerns and jack up financing costs that are already straining lenders.
First Citizens unveils revised SVB community plan worth $6.5 billion
The agreement includes funds for small business lending and mortgages for low- and moderate-income borrowers in California and Massachusetts. It puts an end to questions about the fate of an $11.2 billion plan that Silicon Valley Bank inked before it failed in March.
Heads must roll for the FDIC’s sexual harassment culture. But whose?
The bombshell investigation into pervasive sexual misconduct at the Federal Deposit Insurance Corp. has spurred some senators to call for FDIC Chair Martin Gruenberg’s resignation. If he can’t right the ship, then he should step aside.
Senate moderates voice concerns with Basel endgame
Moderate Democrats on the Senate Banking Committee voiced concerns about the impact of the Basel III endgame proposal on small businesses and minority communities, saying regulators should consider revisions or an extended comment period.
Michelle Bowman and the Fed’s history of dissent
The Federal Reserve Board governor has emerged as a leading voice of skepticism on various regulatory rules and proposals. In doing so, she joins a long — and sometimes misunderstood — tradition of principled opposition at the central bank.
Wells Fargo cuts about 50 investment bankers as deals slump
Amid a deal drought that has dragged on for more than a year, Wells Fargo is cutting 40 to 50 jobs in its corporate and investment bank division, say people with knowledge of the decision.
The tech that helped an Arkansas credit union reduce declined calls 21%
Arkansas Federal Credit Union in Little Rock launched a branded calling solution in June through a partnership with First Orion, also based in Little Rock. It helps customers believe it’s really their credit union calling them.
Lawmakers zero in on ‘disturbing’ cultural problems at FDIC
House Republicans and lawmakers in the Senate Banking Committee questioned the culture at the Federal Deposit Insurance Corp. after a Wall Street Journal report alleged a climate of sexual harassment and misogyny.
First Financial in Indiana buying Tennessee bank
The deal for SimplyBank, scheduled to be completed in the second quarter, would give First Financial in Terre Haute, Indiana, additional branches in Tennessee and its first presence in Georgia.