Israel Discount Bank of New York is suing BlackRock Inc. and MetLife Inc. over losses related to investments in subprime mortgages.
In a statement Monday, Israel Discount Bank said it lost $2 million by investing in a MetLife insurance policy that had subprime exposure through a BlackRock-managed fund. The bank said MetLife refused to move its investment because of "liquidity" issues affecting other investors. The lawsuit alleges breaches of contract and fiduciary duty.
The all-cash, 750 million euro deal to buy Talon.One marks a notable shift from the fintech's M&A strategy that has historically favored build versus buy.
The Long Island-based regional bank, which has been in turnaround mode for two years, reduced its earnings per share guidance for 2026 and 2027. It cited an expected decrease in net interest income due to higher levels of payoffs and paydowns in commercial real estate.
The Federal Deposit Insurance Corp., Federal Reserve and Office of the Comptroller of the Currency Thursday finalized a rule lowering the community bank leverage ratio from 9% to 8% as well as extending compliance deadlines.
U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement.
Only 16% of 206 banking pros rated their institution "high" or "very high" — and most of those ratings rest on no formal measurement.
A proposed update to Basel III capital rules from federal banking regulators does not specifically include mortgage insurance as a factor in determining the risk weight for a mortgage loan held on a bank's balance sheet. Industry experts say it should.
