Finance

Freddie Mac also indicated that it will be proceeding with its closely watched second-lien pilot, while Fannie reported gains in serving credit invisible borrowers.

The Honolulu-based seller, which plans a Nov. 6 shareholder vote on the deal, posted a third-quarter loss and reiterated its commitment to the Hope agreement. But an offer with a higher price from an investor group is also on the table.

The Federal Deposit Insurance Corp. and Texas banking regulators issued consent orders against Industry State Bank, Fayetteville Bank and Citizens State Bank, requiring major overhauls of their management, capital and risk controls.

The Green Bay, Wisconsin-based bank said the 16 lenders it's added have helped drive meaningful loan pipeline growth, and that another 10 new hires are expected by early next year.

The bank, which is rebranding to Flagstar Financial, still expects to meet 2027 earnings goals, despite reduced profit projections for the next couple of years.

The credit card heavyweight said that it expects its acquisition of rival Discover will close in early 2025, pending the approval of shareholders and regulators.

The bank cut its dividend, raised capital, hired multiple top executives and vowed to reduce its commercial real estate concentration after a bruising first half of 2024.

Consumer Financial Protection Bureau Director Rohit Chopra said regulators urgently need to implement the Basel III endgame bank capital proposal, suggesting his opposition to the revised rule centers on the process of re-proposal rather than more substantive opposition to suggested revisions.

With the payments industry looking for signs of consumer distress, the credit card company says spending is starting to stabilize and it's retaining customers at a strong rate.

The Raleigh, North Carolina-based bank lowered full-year guidance for 2024. Costly deposits are outpacing its yield on loans amid tepid borrowing demand.

The Wilmington, North Carolina, company reported a breakout quarter for loan production, but profits fell as an increase in nonperforming loans led to higher provisioning.

The Southern California company beat analysts' expectations, partly by steadily paying less for deposits, as it navigates a classic net interest margin pickle.

The danger for the central bankers is that "they go too fast or too slow and that risk is higher now than it was six months ago," BofA Chief Executive Brian Moynihan said.

John "Johnny" Allison, the outspoken chairman and CEO of Arkansas-based Home BancShares, used the company's third-quarter earnings call to endorse the Republican presidential nominee. When asked about that decision, he got confrontational.

As new hires generate low-cost deposits and higher-yielding business loans, the New York company's net interest margin is widening. Dime executives signaled the hiring will resume in 2025.

Other acquisitive executives, however, say that interest rate cuts have hastened already-active deal discussions, as more banks seek scale and business line diversity.

The Federal Housing Finance Agency issued a proposed rule for the Federal Home Loan Bank System that allows the FHFA director to set "reasonable" board compensation.

The Detroit company's charge-offs on consumer auto loans rose sharply last quarter. Its CEO said he's confident losses will decline, but the next few quarters "will be choppy."

The Arkansas bank said CRE is no longer its principal growth driver, yet it is still the bank's most prominent business and a big part of its robust lending activity.

The credit card lender's earnings beat analyst expectations, but it also reported weakness in spending and higher late payments. Amex boss Steve Squeri said consumers are "resilient" and credit remains strong.