Matt Scully
Matt Scully is a reporter based in New York. He covers large banks and reports on complex financial topics, often related to the post-crisis recovery of consumer and mortgage credit. He tweets news often @scullymb.
Matt Scully is a reporter based in New York. He covers large banks and reports on complex financial topics, often related to the post-crisis recovery of consumer and mortgage credit. He tweets news often @scullymb.
Citigroup plans to shed 60 branches as part of its ongoing restructuring, a number of which are said to be in California. It shopped some of the California branches last year, and it may again try to sell some of them.
The investment firm made the decision after veteran analyst Anthony Polini and an associate left to form a new research arm for American Capital Partners.
Capital markets hold the key to the future for the consolidating Wall Street landlords, but the path through is downright bloody.
Freddie Mac in the next month plans to approve three more lenders, including one bank, to make multifamily loans between $1 million and $5 million for GSE purchase and securitization, according to an official. Banks were not initially courted.
The San Francisco bank will lend to more borrowers with weaker credit histories, an official at the bank said. Bank of the West, a BNP Paribas subsidiary, has proven to be more aggressive than U.S. peers in the past.
Investors' demands that the country's biggest bank produce better earnings amid costlier regulations are prompting fresh cries to break up JPMorgan Chase.
As the real estate market ramps back up, lenders are looking for ways to diversify their portfolios, even if the returns are slim.
Oil at $50 per barrel will almost definitely create problems for banks in oil-producing regions as well as Wall Street financial institutions that finance the sector. Analysts already forecast the price of crude will fall that low the only other question is how long it might last.
Marketplace lender Social Finance may pursue a larger initial public offering than expected, CEO Mike Cagney said. Progress in its mortgage business and a new lending app will be pivotal to the company's future, he said.
A bankruptcy court judge sunk investors' hopes in their latest lawsuit against Lehman Brothers, which they claim broke contracts in junk mortgage-backed securities sold during the bubble years.