Economy

The growth opportunity is there, the brand trust is there, the clients are there — it’s the banks that are largely absent.

The Federal Reserve has started a hiking cycle that's expected to continue with half-point increases in June and July, Marvin Loh, senior macro strategist at State Street Global Markets, will assess the June Federal Open Market Committee meeting and tell what he expects the panel to do in the future.

Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.

Community development financial institutions proved themselves indispensable during the COVID-19 pandemic. They have earned a seat at the table.

The nonprofit First Step Alliance is working to launch Diverge Federal Credit Union, which plans to offer loans to cover the costs of gender affirmation surgery for individuals and adoption for same-sex couples.

President Biden used a rare meeting with Federal Reserve Chair Jerome Powell to declare that he’s respecting the central bank’s independence — while simultaneously shifting responsibility for taming decades-high inflation ahead of the November midterms.

Former FHFA director Mark Calabria said the mortgage market was a “ticking time bomb” on track for a 2008-like crisis. Other experts foresee a tamer end to the bull housing market.

Q2 Holdings, a banking-software provider, is weighing options including a sale after receiving takeover interest, according to people familiar with the matter. 

Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.

Year to date Dec. 31, 2021. Dollars in thousands.