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The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead.
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Stephen Curley, who was the chief banking officer at Phoenix-based Western Alliance, will join Maryland-based Eagle Bancorp as president and CEO in July. Eagle's current CEO previously announced plans to retire after the bank racked up big losses in office loans.
May 12 -
At its first-ever investor day, the Phoenix-based bank fended off questions stemming from two recently disclosed problem loans, including one that resulted in a $126 million charge-off.
May 12 -
The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.
May 12 -
Kevin Warsh's nomination to the Federal Reserve chairmanship will require a second vote, which should happen this week.
May 12 -
The community bank trade group says crypto firms are combining stablecoin rules, Fed master account access and trust charters to replicate banking without bank rules.
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