Economy

The Office of the Comptroller of the Currency has promoted Maryann Kennedy to oversee about 800 OCC examiners who supervise the largest banks.

On Dec. 31, 2018. Dollars in thousands, except for average loan amount.

While regulators now seem eager to help, organizers are discovering that they must raise more capital and have diverse business models to get charters approved.

The board of the Federal Deposit Insurance Corp. on Friday made several proposals meant to simplify post-crisis rules, prompting opposition from its most recent former chairman.

Under the hood of U.S. Bank's new mobile app; BofA, Wells Fargo sour on blockchain; are Fannie and Freddie too big?; and more from this week's most-read stories.

Linda McMahon is planning to step down from leading the Small Business Administration to help raise money for President Donald Trump’s re-election campaign, according to people familiar with the matter.

Community Bank of the Carolinas must raise about $4 million before becoming the state’s first new bank since the financial crisis.

The digital lender rebranded its mortgage business as SoFi Home Loans about four months after it took a step back from real estate finance to redesign its processes.

Some institutions have benefited from revitalization in the Motor City but just as consumers fled for the suburbs decades ago, most CUs in the area are headquartered outside the city itself.

The central bank said the supplemental document “provides significantly more information on the stress test models that are used to project bank losses, compared to disclosures from past years.”

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

As more national banks leave smaller communities and focus on large customers, fintechs are creating an "Uber effect" with an easier experience. Small businesses are increasingly looking to borrow money and fund their growth initiatives, and need a partner who can deliver, argues William Phelan, president of PayNet.

Nearly a dozen Republicans joined all of the committee's Democrats in supporting the legislation, which would enable banks to serve legal marijuana businesses.

A new outreach effort will target parts of New York City to help boost membership at several African-American credit unions.

The Federal Housing Finance Agency is planning on finalizing its proposed capital requirements for the government-sponsored enterprises this summer, the agency's acting director said Wednesday.

Swedbank fires its CEO as New York State DFS probes alleged money laundering; the underperforming unit will be overseen by CEO Jes Staley.

The Canadian bank recently caught flak over an ad in one of its branches that was seen as a slight against the diverse Boston community of Dorchester. Here’s what other bankers can take away from the episode.

The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.

Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents.

As lawmakers discuss reform legislation, the president’s memo calls on agencies to draft both administrative and legislative reform options and deliver their reports “as soon as practicable.”