Economy

Organizers of Sterling Bank have filed an application with the FDIC and have set a $20 million capital target.

Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, said his department "broadly" agrees with the FHFA plan, which would return Fannie Mae and Freddie Mac to the private market and provide them an explicit government guarantee.

The Office of the Comptroller of the Currency’s semiannual report on industry risk said tougher competition between banks, leading to looser underwriting, could arise from the economic expansion.

The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.

Deutsche Bank's John Cryan on Thursday defended his strategy for Germany's largest lender, saying its turnaround has entered a "third phase" in which growth should finally be restored.

BNY Mellon plowed some of its tax law savings into restructuring efforts.

Highlights at the North Carolina bank included deposit service charges, CRE lending and wider margins, which all offset one-time costs related to tax reform.

Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.

America's biggest banks just spent a week regaling shareholders about brighter days ahead, when tax cuts add billions of dollars to the firms' annual profits. About 8,000 people are getting left behind.

Merger- and tax-related charges took a bite out of fourth-quarter profits at the Cleveland company, but its CEO emphasized that a recent deal and tax reform are promising for growth.

OnPlan serves the education and health care industries, and under Flywire its services will be available for the first time outside the U.S.

The Mississippi company reported strong loan growth, even as it reduced exposure to energy-related borrowers. Higher revenue also helped Hancock lower its efficiency ratio.

FHFA Director Mel Watt said Fannie Mae and Freddie Mac should be reincorporated as private entities and the government must provide an explicit guarantee for catastrophic losses in the secondary mortgage market.

Endeavor Bank, which raised nearly $27 million, will become the second new bank to open in California in the past year when it debuts next week.

Progressives have been setting off alarm bells this week over the Senate’s bill to ease some Dodd-Frank rules, but the changes are more modest than many assume.

Cryptocurrencies continue to dominate much of the news, with a warning on bitcoin taking the top spot and a story about Ripple's partnership with MoneyGram doing well. Housing finance reform, Wells Fargo and the CFPB also featured.

The Maryland credit union will offer business services to the medical cannabis industry.

Housing finance reform proposals could make it challenging for community banks and credit unions to serve rural mortgage markets, according to a report issued Wednesday by Brookings and the Center for Responsible Lending.

Minneapolis Fed President Neel Kashkari acknowledges that his plan to raise capital at the biggest banks and ease burden for smaller ones isn't likely to be enacted soon, but says its time will come.

The final plan to end "too big to fail" suggests that banks with less than $10 billion be subject to a much less complicated risk-based capital regime, akin to what was required in Basel I.