WASHINGTON - (12/14/05) As many had expected, The FederalReserve boosted the federal funds rate by 25 basis points to 4.25%,its highest point since March of 2001. It marked the 13thconsecutive meeting at which the Fed has pushed rates up. Someanalysts, in reviewing policy statements released by the Fed,believe the Fed may be near the end of its plans to increase rates,but others are predicting several more increases may be in store.The meeting was the second-to-the-last for Fed Chairman AlanGreenspan, who will be succeeded at the end of January, 2006, byBen Bernanke.
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The company, formerly known as LendingClub, moved from NYSE to Nasdaq as it officially launched its new name as a full-fledged digital bank.
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Critics of the OCC's broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
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Keweenaw Financial plans to acquire neighboring Range Financial in a transaction that would create an institution with nearly $1.7 billion of assets.
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In 2024, a Honduras-born man who was buying a motorcycle was turned down for a loan. Two years later, Truist Financial is facing a discrimination lawsuit — and the plaintiff's lawyer says many lenders are vulnerable to the same accusations.
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The nation's largest banks saw their aggregate capital levels decline the least since the stress testing regime was reformed in 2020. Even so, the Fed will keep stress capital buffers unchanged as it weighs structural changes to its annual capital test.
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The Atlanta-based parent company of Ameris Bank plans to open a commercial banking office in Tennessee's largest city by the end of the year, as part of its organic growth strategy.
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