Economy

Organizers of the planned Portrait Bank say they're well ahead of initial capital-raising goals as they near completion on leasing a property to serve as headquarters

Federal Reserve Bank of St. Louis President Alberto G. Musalem said central bank autonomy leads to lower inflation and stable employment numbers. His comments come amid the Trump administration's attempt to remove a Fed board member for cause.

Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.

In a letter Friday, U.S. Sens. Elizabeth Warren, D-Mass., Chuck Schumer, D-N.Y., and Cory Booker, D-N.J., called on Pulte to address housing unaffordability instead of concentrating on efforts to destabilize the Federal Reserve.

Federal Reserve Gov. Christopher Waller criticized his fellow Federal Open Market Committee members for not cutting interest rates in July, but said he is "hopeful" that easing monetary policy soon can keep the labor market from "deteriorating."

Community development financial institutions have a long history of providing vital economic lifelines to communities across the country. Credit unions have always been an important part of that story.

The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.

A directive from the Federal Housing Finance Agency would cut the number of board seats for Federal Home Loan Banks, especially in dark blue areas of the electoral map.

The leader of a major credit union trade group takes issue with a recent BankThink article questioning credit unions' ability to operate as federally recognized Community Development Financial Institutions.

Data suggests that the beleaguered commercial real estate market isn't going to get worse. And now that banks have had time to build reserves, any losses they do take shouldn't be disastrous, analysts say.

Four years after its launch, the Mission Driven Bank Fund has ended its fundraising well short of its original $500 million target. Still, organizers are hopeful that the fund's performance will attract other investors to the sector.

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.

Congress should hold hearings to investigate whether credit unions really qualify to operate as tax-advantaged Community Development Financial Institutions.

Federal Reserve Chair Jerome Powell said Friday that while the central bank must "proceed carefully" in considering interest rate adjustments in the coming months, recent softness in employment "may warrant adjusting our policy stance."

Trump has yet to decide when Fannie Mae and Freddie Mac will return to the market in an IPO that regulator Bill Pulte says could top $1 trillion.

More nonbank digital asset firms are applying for national trust charters, a development that many banking organizations oppose due to what they say is inadequate oversight, lack of congressional intent and no FDIC backstop.

The Office of Management and Budget under President Donald Trump has not apportioned any discretionary awards to financial institutions in the fiscal year of 2025, according to new documents released by the agency.

Advocates warned the Federal Housing Finance Agency that allowing cryptocurrency assets to be used in the underwriting of Fannie and Freddie mortgages risks taxpayer losses and market instability.

Core CPI, which excludes food and energy, rose to 3.1%, up from 2.9% in June.