The Portland, Ore., company has hired four private bankers from City National as part of a broader effort to provide a full range of services to business owners and high-net-worth households in Orange County and San Diego.

Berkery will be succeeded by Michael Blum as the chairman of UBS Bank USA. A Merrill Lynch alum, Berkery was part of the turnaround team at UBS' wealth management unit, and during her tenure, the lending book at its bank more than doubled in size.

The $6 million acquisition will add four businesses with a total of $700 million in assets under management.

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student loan servicers that aren't helping troubled borrowers.

The bank's purchase of Sodak Home Loans in Sioux Falls, S.D., adds to a string of bank deals for mortgage lenders this year.

In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments.

The failure of Republic First isn't a systemic threat or even a surprise. But the conditions that led to its failure are not all that unique and may foreshadow a secular rise in bank consolidation — one that policymakers can either embrace or resist.

Though written before the internet era, the book about working at Salomon Brothers in the 1980s that launched Michael Lewis' writing career still holds important lessons about the true costs of success.

Climate models that purport to assess the risk of environmental damage faced by individual properties threaten to distort the market, despite having little demonstrable accuracy.