INDIANAPOLIS – The Federal Home Loan Bank of Indianapolis said yesterday it is lifting its dividend for the fourth quarter to 5.0% for its B-1 stock and 4.0% for its B-2 stock. That compares to payouts of 4.75% and 3.80%, respectively, for the fourth quarter in 2006; and to 4.25% and 3.4%, respectively, for the third quarter in 2006. The dividend will be paid on January 23. The Indianapolis Bank has 440 members, including 94 credit unions.
In line with broader trends, the GSEs have been putting new limitations on forbearance and putting more of an emphasis on mods.
A new survey found artificial intelligence was a top compliance-related priority for 85% of firms responding, while cybersecurity was only a concern for 37%.
Digital lender Chime and Visa this week became the latest firms to cite AI as part of a downsizing. While bots usually aren't directly replacing workers, machine learning changes customer access to financial products in a way that's increasingly making some work less necessary.
Fincen's Andrea Gacki will join Citi as global head of sanctions, BBVA promoted Gonzalo Rodríguez to chief financial officer, HDFC Bank penalized three senior officials for their role in a controversial deposit arrangement, and more in this week's banking news roundup.
A recipe of no securities, mostly adjustable-rate loans and a cheap rural deposit base made the Texas bank the top performer in the $2 billion-$10 billion asset class.
"Increase Bank is the bank I needed at Stripe," CEO Darragh Buckley said as he announced the rebrand of a community bank he acquired last year.
