WASHINGTON - (10/18/04) -- Secondary mortgage market giantFannie Mae, defending itself through a growing accounting scandal,said it will delay the release of its third quarter financials,which the company traditionally release to investors this week, thethird week following the end of the quarter. The company said itplans to release the third quarter results to the public when itfiles them with the Securities and Exchange Commission, 45 daysafter the end of the quarter. Fannie's secondary market sister,Freddie Mac, also mopping up a major accounting scandal, has yet toresume filing its financial results regularly, almost two yearsafter suspending regular filing because of doubts to the accuracyof the numbers. Separately, the Office of Federal HousingEnterprise Oversight, which oversees the two secondary mortgagegiants, said Friday the two companies just met their mandatoryaffordable housing goals last year, but only because of financiallyengineering the purchase of loans from Washington Mutual andCitibank, with recourse.
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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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