Economy

As policymakers take another crack at housing finance reform, federal leaders and the housing lobby are once again perpetuating the false notion that ending government guarantees would cause the 30-year, fixed-rate mortgage to vanish.

Gulfside Bank, which would be based in Sarasota, is angling to become southwest Florida's first new bank in a decade.

Analysis from the Minnesota Credit Union Network revealed a benefit of $69 per member or $132 per household as the result of credit union membership.

Organizers want to open the first new bank in Michigan since 2009, while a third group in Florida has filed a de novo application.

Wells Fargo gets tipped off by OCC on investigation; HSBC is wading back into U.S. mortgage waters; a bank uses artificial intelligence to combat money laundering; and more.

The first step for credit unions to get certified as community development financial institutions begins next week.

The bank, which has branches in eight states and operates a nationwide real estate business, said that the proposed new name, Bank OZK, would better reflect its geographic reach.

A day after the Senate passed regulatory relief, top House Republicans vowed to have a big say in the final version before the bill heads to the White House. That raised fresh questions about how quickly the Dodd-Frank reforms will become law.

With substantial regulatory relief within reach, community bankers should use their clout to shape cybersecurity policy and ensure a level playing field for banks and nonbanks, retiring ICBA chief Cam Fine says.

With the Senate finishing its work on a regulatory relief package, a showdown in the House still looms while critics of Dodd-Frank weigh whether this is their last shot at unwinding it.

Sen. Elizabeth Warren, D-Mass., introduced a bill to create a permanent law enforcement unit to investigate criminal activity at large banks, just as the Senate was close to passing a regulatory relief package.

As it expands to the West Coast, the bank will first target car dealers at which it is already an indirect consumer lender.

Freddie Mac and Arch Capital are testing a new form of risk-sharing deal to boost investor appetite for low down payment mortgages. But the pilot is raising concerns about "charter creep" because it dictates private mortgage insurance decisions typically made by lenders.

Organizers in Winston-Salem are planning to raise at least $25 million to form Community Bank of the Carolinas.

A mortgage program created by a 2015 partnership between the Federal Home Loan Bank of Chicago and Ginnie Mae has securitized over $1 billion in government-backed mortgages, the partnership announced.

President Trump is expected to announce as early as Thursday morning that he has selected Larry Kudlow, the host of CNBC's "The Kudlow Report," to replace Gary Cohn as head of the National Economic Council, according to multiple media reports.

In the wake of the Parkland, Fla. school shooting, a New York Times columnist has suggested the financial industry stop doing business with gun dealers. Here's what the leaders of five financial institutions – including one with a personal connection to Marjory Stoneman Douglas High School – had to say about the proposal.

Fundbox is testing a payments and credit network for small businesses and their business clients that may offer an alternative to traditional lenders, credit card issuers and supplier financing.

A clear government backstop for the mortgage market would benefit small banks and investors by ensuring a stable and liquid secondary market for securities.

Smaller bank stocks have outperformed the big banks with the prospect of Dodd-Frank rollbacks; Trump “very strongly” pondering TV analyst for adviser role.