Retail & Commercial

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.

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.

The Canadian bank signed an agreement to sell the businesses to Stonepeak, an alternative investment firm in New York. The move will free up capital and allow the bank to invest in higher growth-potential areas.

Regulatory proposals are boosting interest for banks to grow in mortgage, but sustainability demands deliberate, rather than reactive, strategy, experts say.

Plans were moving along smoothly for a new data center in Franklin County, Missouri — until residents found out about it. Now the project is facing a fierce public backlash, and a local community bank is caught in the crossfire.

The Village Bank is already mulling expanding the concept to other locations if the one planned for its Wellesley, Mass., office lives up to expectations.

The cost of deposits has fallen but the trend may get short-circuited by a Fed that can't cut rates amid the inflationary pressures of the war in Iran.

Banks' deposit costs fell as the Fed made borrowing cheaper. But signs of increased competition are already emerging, and analysts see a tougher road ahead.

Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.

The opinion that supports national banks' ability to avoid paying interest on certain mortgage accounts in New York is unlikely to be the last word.