EverBank Financial Corp. of Jacksonville, Fla., the majority stakeholder in BNY Mortgage Co., said it has purchased the 49% of the venture that it did not own from Bank of New York Co.
The $4.2 billion-asset EverBank announced the purchase Monday but did not say how much it paid.
BNY Mortgage, of New York, is the fifth-largest provider of reverse mortgages. Bank of New York is quitting consumer banking.
Investors seemed to agree with CEO Barry Sloane's argument that strong earnings will outweigh a jump in nonaccrual loans.
While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."
Federal Reserve Chair Jerome Powell declined to say whether he would depart the central bank after his chairmanship ends next year, as is typical with Fed chairs who are not reappointed. He also pushed back on criticism from one potential replacement.
The payment company joins other firms that are expanding apps in Europe, where Apple has agreed to ease access to supporting technology. Plus, the U.K. plans a new crypto crackdown.
The Treasury secretary tells the House Financial Services Committee that he is vetting candidates to fill the role and says acting Chair Travis Hill has been effective.
The credit union partnered with Bloom Credit to offer members a new way to build their credit score by sharing rent and utility payment data.
