WASHINGTON - The Federal Reserve Board last week gave two European
The governors ruled Feb. 21 that Credit Commercial de France of Paris
The two banks together control more than $87 billion of assets.
The Fed also resolved a dispute with a stockholder of Sun Belt
The Fed charged that Robert L. Rice had helped another institution
Mr. Rice, in a Feb. 16 cease-and-desist order, agreed to dump his
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
Tests of models from OpenAI, Google and others found their advice tends to disadvantage names commonly associated with racial minorities and women.
Federal Reserve Governor Michelle Bowman said she believes there is a feasible path forward for the revised capital reform proposal, emphasizing the importance of making broad changes informed by industry feedback to achieve broad consensus among Federal Reserve board members.
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
