Finance

Here's how the former regulator thinks Fannie Mae and Freddie Mac could exit conservatorship and where he sees the residential market headed this year and next.

MoneyLion saw continued financial growth in 2023, achieving four straight quarters of positive earnings. In 2024, it plans to develop a partnership with EY to bolster its enterprise services.

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.

Contenders see plenty of room for the market of EFTS investing in CLOs to grow. The question is if they can potentially usurp some of banks' dominance in AAA-tranche investing.

The fintech has grown its way into the black for the first time since going public in January 2022, CEO Jason Wilk says, capitalizing on AI-underwritten cash advances of up to $500.

The bank has also hired some analysts to its infrastructure group over the past several weeks as it plans to beef up its muni team.

Federal Reserve Governor Christopher Waller said he'd like to see the central bank's holdings of mortgage-backed securities go to zero. 

The Toronto bank has been under investigation by U.S. and Canadian supervisors for alleged shortcomings in anti-money-laundering compliance. CEO Bharat Masrani pledged "comprehensive enhancements" but declined to pinpoint the exact fixes and their costs.

The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.

Citing missed deadlines for an annual meeting and key regulatory filing, the Norcross-Braca group has called off a plan to invest $35 million in the Philadelphia bank.

Canadian Imperial Bank of Commerce benefited from growth in its domestic retail business even as it set aside more money than analysts expected for potentially sour loans.  

The proposed capital rule risks driving borrowers away from the traditional banking industry and into the arms of shadow banks, whose support during stressful times can be fleeting.

Royal Bank of Canada is optimistic that new U.S. leadership, including former Fifth Third CEO Greg Carmichael, can rejuvenate its struggling City National Bank.

A group of former FTX and Alameda Research employees plan to use the venture money to build out a cryptocurrency exchange called Backpack. It's one of the startups seeking to fill a gap left by the collapse of Sam Bankman-Fried's crypto empire. 

The Toronto-based company wrung out $800 million USD in cost savings in connection with last year's acquisition of Bank of the West, a bright spot in an otherwise tough quarter across most business segments.

After his aggressive cost-cutting raised profits above analysts' expectations, Block's CEO aims to retool several features of Square and Cash App to enable them to operate like a "social bank."

Lenders collected an estimated $25 billion in additional interest income last year by raising the average margin on annual percentage rates, or the amount above the prime rate, according to the Consumer Financial Protection Bureau.

Community Bank System in Syracuse faced claims it failed to properly pay some branch-level employees, making it one of a growing number of banks forced to confront compensation-related disputes in recent months.

The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.

Federal Reserve Vice Chair for Supervision Michael Barr Wednesday downplayed the significance of recent turmoil at New York Community Bank, noting that liquidity and stability in the banking system is in "much better shape than it was last spring."