Economy

Michael Bright co-wrote a paper in 2016 that envisioned making the agency a backstop for the housing finance system, but appeared to distance himself from the proposal at his confirmation hearing.

The $2.9 billion deal is the Georgia company's first traditional whole-bank acquisition since 2006. It is also the year's second-biggest bank acquisition.

The announcement comes as Fannie Mae promoted David Benson to serve as president of the government-sponsored enterprise.

The banking industry lost a key battle in the Supreme Court over the use of “disparate impact,” but legal observers see potential for the tide to turn if Judge Brett Kavanaugh is confirmed.

Leroy Abrahams had previously served as president of the bank's North Central Alabama region.

The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.

The Boston bank said the digital lending platform has cut down the time it takes to deliver loan decisions by roughly 40%.

Vend Lease, which is based in Baltimore, focuses on suppliers and vendors in the hospitality industry.

On Mar. 31, 2018. Dollars in thousands.

On Mar. 31, 2018. Dollars in thousands.

The bank also agreed to pay a $5 million fine to settle allegations over how it obtained consumers' consent.

An integrated payments and receivables solution is helping two Michigan credit unions boost engagement with small business members.

Goldman’s next CEO pushes for more women in senior roles. Fifth Third’s program to retain new moms is working. And there’s good news and bad news at Bank of America, as it bulks up on female summer interns but pays out millions to an exec fired over sexual harassment claims.

The federal bank regulators are considering roughly a dozen new rulemakings in response to the bill rolling back certain sections of Dodd-Frank.

Citi and other banks are investing in automation aimed at speeding up the old-fashioned process for institutional clients' receivables and payables.

The Birmingham, Ala., bank also saw lending decline in the quarter as strategic reductions in certain business lending lines offset gains in C&I and consumer.

State Street said it would suspend a share repurchase program and issue common and preferred stock to pay for the deal.

The company has created a municipal group that will focus on nonpublic financing services at a time when loans to bond issuers are declining.

To improve videoconferencing adoption, banks are advised to focus on one particular group of clients.

The bank had numerous warnings that there could be severe regulatory consequences related to deceptively advertised add-on products. It is paying the price for failing to do more in response.