ATLANTA – The Federal Home Loan Bank of Atlanta reported yesterday that net income for its first quarter declined 6%, to $95.8 million, due mainly to a drop in net interest income and other income. The first quarter financials resulted in a dividend of 6.25%, down from 6.74% paid for the first quarter last year. The Atlanta Bank is one of the largest of the 12 FHLBs, by membership, and claims more than 1,200 members, including 135 credit unions.
OUSD, the new stablecoin from Open Standard, a consortium of more than 140 banks, fintechs, payments companies and crypto firms, has drawn interest, in part due to its shared economics model.
The purchase could bolster Stripe's merchant credit product as rivals such as PayPal and Square make similar moves.
A Treasury proposal would remove race and ethnicity from the criteria community development financial institutions can use to establish a targeted market population, a move that could affect institutions serving minority communities.
A top official at the Office of Inspector General says significant budget cuts will force large layoffs and essentially eliminate enforcement activities.
Technical hurdles and depositor inertia get in the way of Meta Muse or another AI agent sweeping all consumers' deposits out of their banks any time soon.
Discussions about what David Solomon's longtime heir apparent might do as CEO surfaced following news reports that Waldron could take over as soon as next year.
