Retail & Commercial

Amplify Credit Union in Austin provided funding for the construction of 28 tiny homes to create more affordable housing in Round Rock, Texas. Several banks had previously shot down the project.

A pending new rule from the Consumer Financial Protection Bureau on customer data will force banks to improve customer service and be more competitive in their pricing.

The San Francisco-based bank reported $13.1 billion in net interest income in the third quarter, up 8.3% from a year earlier, and raised its full-year guidance. Noninterest expenses rose more than expected, though, totaling $13.1 billion in the quarter.

Net interest income was $22.9 billion in the third quarter, above analysts' expectations. The biggest U.S. bank says it now expects to generate $88.5 billion from the revenue source this year.

The consulting giant's annual global banking review highlights a stark trend: Over a seven-year period, more than 70% of the net increase in financial assets ended up not on U.S. banks' balance sheets, but instead at insurance and pension funds, sovereign wealth funds, in private capital markets and elsewhere.

The San Antonio-based lender is introducing new products targeted at borrowers who make less than 80% of their county's median income. The loans, which will qualify for Community Reinvestment Act credit, could help expand access to the state's increasingly expensive housing market.

In a tough commercial real estate market, sellers are stepping up efforts to entice buyers before plummeting property values force them to accept deeper discounts. 

After Archegos' collapse, Nomura had lost almost $3 billion, one of the biggest losses in the history of the prime-broker industry that caters to investment funds.

The Consumer Financial Protection Bureau and the Justice Department warned banks and other lenders that credit applicants cannot be rejected due to their immigration status.

The credit bureau is embedding its Experian Boost feature in the new account, which aims to help people strengthen their credit profiles through on-time bill payments.