Lenders that sell new single-family homes guaranteed by the Farmers Home Adminis tration will have to know a little more about insulation starting Oct. 22. The FmHA issued a final rule (See Aug. 25 Federal Register) that implements thermal standards for construction of single-family housing. The rule, which adopts thermal requirements from the 1992 edition of th e Council of American Builders Model Energy Code, applies to all mortgages insured, guarantee d or made by the Department of Agriculture under Title V of the Housing Act of 1949. Previous ly, all FmHA loans were required to comply with thermal requirements outlined in Exhibit D of FmHA Instruction 1924-A.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
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Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
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The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
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