Economy

CEO Lynn Harton said his Greenville, South Carolina-based bank struggled the past year to keep Navitas from overshooting the limit the bank set for its expanding portfolio, about 10% of total loans.

The blockchain fintech acquired the real estate lender through a joint venture to tokenize housing loans and test its new AI-powered onboarding agent.

Inflation continued to rise in May, bolstering the case for the Federal Reserve to keep its policy rate unchanged at next week's Federal Open Market Committee meeting. But the range of future monetary policy outcomes is wide, with all eyes on how newly installed Fed Chair Kevin Warsh navigates his new role.

The bank's first institutional fundraising round brought its total funding to $222 million.

Senior executives at the Ohio regional bank say cost savings and revenue synergies from a pair of recent Texas deals could top $500 million.

Even the Federal Reserve has limited visibility into the nonbank and private credit markets. That's a problem for banks that are increasingly lending to those sectors.

The 30-year fixed rate mortgage average not only remains where it was in September, it is still nearly a half-percentage point above February's trough.

Analysts said Bill Pulte's new additional role as spy chief will further delay GSE privatization efforts, although that could change if he formally departed.

Amid geopolitical uncertainty and fears of a trade war, family offices also show a preference in investing in developed markets.

The global card network is working with cross-border fintechs like PingPong to help business customers use Visa to pay suppliers who don't accept credit cards.

Silent attrition and low small-business adoption are among the challenges to banks' corporate card business.

Though compliance spending remains an issue, the Toronto-based company reported linked-quarter loan growth in the U.S. and expects the trend to accelerate.

A report from the Financial Stability Board said limited transparency in the private credit market makes it difficult for regulators to monitor and understand risks, potentially masking challenges to the financial system.

The Federal Reserve Board governor is the latest Fed official to embrace the prospect of tighter monetary policy in response to rapidly rising prices that have taken hold in recent years.

AI could bring about the worst jobs market in the past century; the good news is we have time to figure out what to do about it.

Maspeth Federal Savings in Queens has been managed by members of the Rudzewick family, led by long-serving patriarch Ken, for nearly three decades.

Fidelity Institutional Wealth Management Services faces competitive threats in an era of ETFs and multicustodian advisory practices. But it has big advantages.

With the 10-year Treasury yield at levels not seen in 52 weeks, the 30-year fixed rate mortgage rose 15 basis points over last Thursday, Freddie Mac said.

BOK Financial and Atlantic Union Bankshares are among the lenders with very low rates of bad loans. They're telling investors it won't last forever.

The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.