Economy

Trump's pick for treasury secretary commits to a thorough and careful recapitalization and release process for Fannie Mae and Freddie Mac.

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.

The Columbus, Ohio-based bank's profit more than doubled in the fourth quarter from a year ago, with solid growth in loans and deposits.

Quicken Business & Personal will help entrepreneurs manage their personal and business accounts on one platform by aggregating financial data from banks.

The Pittsburgh-based company's fourth-quarter earnings increased more than 80% from the same period in 2023, beating analysts' expectations and leaving CEO Bill Demchak upbeat about 2025 prospects, though M&A likely remains off the table.

The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.

Mohit Ramani joins the Cleveland-based company next week. His predecessor, Darrin Benhart, will fill a newly created role as Key's chief regulatory officer.

Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.

The Florida bank is jumping on the strategy for general corporate purposes and a potential sale of its underwater bond portfolio.

The Bethesda, Maryland-based company called its success in luring a team from Capital One as its most "newsworthy" move to date executing a strategy aimed at diversifying its lending operation.

In a Wednesday morning speech, the Federal Reserve Gov. Christopher Waller said President-elect Donald Trump's nascent trade policy will likely lead to a one-time jump in prices rather than broader inflationary pressure. He also said he expects further interest rate cuts in 2025.

Reading Cooperative's combination with Wakefield Cooperative, the third deal involving Boston-area banks announced in the past month, would create a $1.2 billion community bank.

The gulf between what small businesses need and what banks are providing could be an opportunity for bankers.

In their new book, "The New World Economy in 5 Trends," Koen De Leus and Philippe Gijsels predict a future in which neutral interest rates are higher, technology is transformative and the urgency of climate-change adaptation creates investment opportunities.

Bill Ackman, founder of Pershing Square Capital Management, predicts Fannie Mae and Freddie Mac will be removed from conservatorship within the next two years.

The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.

The custody bank achieved its goal for the amount of deposits it placed into minority banks and community development financial institutions by the end of the year.

Releasing the GSEs from government conservatorship is on the agenda for the incoming Trump administration. Doing so could threaten the 30-year fixed rate mortgage.

Economists say the U.S. economy is leaving 2024 healthy, with unemployment low, inflation manageable and growth robust. Unknown variables — including the depth and scope of President-elect Donald Trump's immigration and tariff policies — could change that course, but likely not until 2026.