INDIANAPOLIS - (01/20/06) -- The Federal Home Loan Bank ofIndianapolis said Thursday it lifted its fourth quarter dividend to4.75% for B-1 stock and 3.80% for B-2 stock. That's up from 4.25%paid on B-1 stock and 3.40% on B-2 stock for the fourth quarter in2004. The dividends will be paid in cash to the bank's 432financial institution members, including 92 credit unions, inIndiana and Michigan.
The payment and commerce company's stock fell as much as 12% in afterhours trading on Thursday after the fintech missed Wall Street's earnings estimates, despite posting growth in all lines of business and increasing its full year guidance.
Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.
Analysts say the fintech must "grow like a fintech, but be profitable like a bank" as its capital base shrinks to its lowest level to date.
Comptroller of the Currency Jonathan Gould said Thursday that a proposal to reimagine bank supervisory practices is meant to empower rather than handcuff supervisors by limiting the scope of their examinations.
A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
