The trio of community bank regulatory relief bills passed by the House of Representatives on Tuesday night would ease exam intensity and frequency for smaller firms; it would also expand Treasury mentorships between community banks and larger lenders.
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.
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.
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.
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.
Kevin Warsh's nomination to the Federal Reserve chairmanship will require a second vote, which should happen this week.
