Economy

The Trump administration has moved forward on a plan to privatize Fannie Mae and Freddie Mac, but Joe Biden appointees could take steps to slow or stop their release from conservatorship.

The new capital framework for Fannie Mae and Freddie Mac is a prelude to letting the mortgage giants potentially retain all their earnings. But efforts to privatize the companies could face pushback from the Biden administration.

The latest report from the American Customer Satisfaction Index reported lower scores for both industries, with credit unions recording their lowest ranking since 2011.

JPMorgan Chase CEO Jamie Dimon says the partisan bickering over coronavirus relief aid is harming households and businesses and jeopardizing the chances of an economic recovery.

CIT Group over a year's time brushed off several offers from First Citizens BancShares, entertained rival bids and kept negotiating on price and board representation before striking a deal, according to a new regulatory filing.

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.

A group at George Washington University has been working to open a de novo institution to serve students, but the would-be institution faces a variety of hurdles before it can open its doors.

Technology imperatives, weak loan demand and the need for increased efficiency could put pressure on dozens of regional banks to join forces with rivals.

Global regulators are preparing to tighten restrictions on companies believed to have threatened the financial system at the height of pandemic-fueled volatility.

The Pittsburgh company is using its BlackRock windfall to execute a familiar script: buy an underperforming bank, cut costs and strengthen ties with commercial clients.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.

Podium is offering chargeback-fraud screening for local businesses taking in-person, offline purchases that use its customer messaging platform and accompanying Podium Payments service.

The Toronto parent of BMO Harris Bank has joined a growing list of banks directing billions of dollars toward affordable housing and loans to low- and moderate-income communities.

JPMorgan Chase dropped one rung on the Financial Stability Board’s annual rankings of systemically important banks to sit alongside Citigroup and HSBC Holdings as one of the world’s three most important banks.

The oversight council’s statement on the FHFA’s proposed capital rule raises questions for market participants trying to anticipate a post-conservatorship secondary mortgage market.

Michael Moeser, Senior Analyst at PaymentsSource, talks to Ginger Siegel, North America Small Business Lead at Mastercard, about how smaller shops are managing through the coronavirus pandemic.

Bitcoin has underpinned the next generation of currencies, while showing that central banks are not necessarily needed as administrators or gatekeepers.