Economy

The Salt Lake City company reported an efficiency ratio of 61.6% despite charges and costs tied to recently passed tax reform.

There were no sighs of relief from bankers, who realize their planning could still prove useful as the potential for another shutdown looms.

Financial firms have mostly shrugged off the government's budget woes, but Washington's gridlock might pose a bigger risk than they think.

Here's a look at what happens at five federal agencies that support the mortgage industry during a government shutdown.

Citizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending.

Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday gave the clearest indication yet of the central bank's intention to recalibrate the regulatory framework for the nation’s largest banks.

The Providence, R.I., company’s results included a $317 million tax benefit as well as growth in mortgages, education and unsecured retail loans.

The Financial Stability Oversight Council filed a joint motion with MetLife that all but cemented the 2016 court ruling throwing out the insurance giant's designation.

Senate negotiators are working on a bill that would place Fannie Mae and Freddie Mac into receivership and replace them with multiple mortgage guarantors, according to sources.

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.

Organizers of Sterling Bank have filed an application with the FDIC and have set a $20 million capital target.

Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, said his department "broadly" agrees with the FHFA plan, which would return Fannie Mae and Freddie Mac to the private market and provide them an explicit government guarantee.

The Office of the Comptroller of the Currency’s semiannual report on industry risk said tougher competition between banks, leading to looser underwriting, could arise from the economic expansion.

The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.

Deutsche Bank's John Cryan on Thursday defended his strategy for Germany's largest lender, saying its turnaround has entered a "third phase" in which growth should finally be restored.

BNY Mellon plowed some of its tax law savings into restructuring efforts.

Highlights at the North Carolina bank included deposit service charges, CRE lending and wider margins, which all offset one-time costs related to tax reform.

Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.

America's biggest banks just spent a week regaling shareholders about brighter days ahead, when tax cuts add billions of dollars to the firms' annual profits. About 8,000 people are getting left behind.

Merger- and tax-related charges took a bite out of fourth-quarter profits at the Cleveland company, but its CEO emphasized that a recent deal and tax reform are promising for growth.