Economy

The Treasury Department will look at recipients of awards from the Community Development Financial Institutions Fund for "potential violations of applicable law" as the Trump administration continues its campaign against alleged abuses related to the program.

Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.

The CFPB's small-business-data rule is a lesson in what happens when nobody agrees.

The Long Island-based regional bank, which has been in turnaround mode for two years, reduced its earnings per share guidance for 2026 and 2027. It cited an expected decrease in net interest income due to higher levels of payoffs and paydowns in commercial real estate.

Some financial companies are noticing the effects of the war on consumers; they're not concerned yet, but they are paying attention.

An uptick in problem loans within the heavily scrutinized office sector pushed down share prices at Rhode Island-based Washington Trust and Bank OZK in Little Rock, Arkansas, even though both banks reported solid profits.

Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.

Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."

Economists and policy analysts say a prolonged disruption in the Strait of Hormuz — and uncertainty about the duration of the conflict — could drive up inflation and further weaken consumer sentiment, which could weigh on bank earnings.

The Birmingham, Alabama-based company also benefited from improved credit quality, with declines in nonperforming assets and criticized loans paving the way for a reduced provision

The U.S. is preparing to turn its conflict with Iran into the kind of economic war that Iran has been waging since the start.

Federal Reserve Gov. Stephen Miran Thursday said that the Iran war and tariffs will not have long-term impacts on inflation, but did say he is reconsidering his rate cut outlook for the year.

This week's Freddie Mac mortgage rate survey shows rates at the lowest in four weeks, but homebuyers are giving mixed signals even with improved purchase power.

The Minneapolis company boosted revenue, kept operating expenses in check, and beat analysts' first-quarter earnings expectations.

America's oldest bank enjoyed a 33% increase in its bottom line, as economic turbulence fueled business and the company's efforts to improve efficiency and boost cross-selling paid dividends.

Office of Management and Budget Director Russell Vought told the House Budget Committee Wednesday that the Community Development Financial Institutions Fund is still a target for elimination by the administration because it promotes "woke" ideology.

The development of artificial intelligence could be used to embed a moral architecture in the new financial system.

First-quarter earnings will provide insights into how the Iran war is affecting consumers and how AI is changing banks.

The White House Office of Management and Budget will issue paperwork allowing the Treasury Department to disburse congressionally appropriated funds through the Community Development Financial Institutions Fund, breaking an impasse that has stalled funding for months.

Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.