NEW YORK -- Dime Savings Bank of New York said it filed with the Office of Thrift Supervision for a public offering of $100 million of noncumulative preferred stock.
The bank said it intended the stock to qualify as Tier I equity for regulatory capital purposes.
Dime said that as of June 30, its leverage-capital ratio was 5.53% and its risk-based ratio was 9.29%, each greater than OTS requirements for that date. The bank said it must meet a 10% risk-based capital-ratio target by Dec. 31, 1994.
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
Tests of models from OpenAI, Google and others found their advice tends to disadvantage names commonly associated with racial minorities and women.
Federal Reserve Governor Michelle Bowman said she believes there is a feasible path forward for the revised capital reform proposal, emphasizing the importance of making broad changes informed by industry feedback to achieve broad consensus among Federal Reserve board members.
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.
