Economy

The as-yet-unnamed bank, which would be based near Charlotte, N.C., would be led by Randy Helton, a former CEO at American Community Bancshares.

Tax reform caused Fannie Mae to burn through retained earnings that had been approved just two months ago and to post a fourth-quarter loss. CEO Timothy Mayopoulos argued it was a one-time event that overshadowed strong fundamentals.

Nonbank mortgage firms are seeking formal assurance from the Consumer Financial Protection Bureau that they will not become subject to surprise audits or enforcement without involvement of a state regulator.

Fannie Mae will request an infusion of taxpayer money for the first time since 2012 because of an unintended but anticipated side effect of the corporate tax cut signed into law in December.

The Trump administration’s 2019 budget highlights the administration’s goal of reining in the post-crisis regulatory apparatus, with proposed cuts for several agencies including the Consumer Financial Protection Bureau.

The Trump administration’s 2019 budget highlights the administration’s goal of reining in the post-crisis regulatory apparatus, with proposed cuts for several agencies including the Consumer Financial Protection Bureau.

Strong policies against sexual harassment appear to be a factor in shielding banks from the public shamings that have occurred in other industries, but even they know they can’t get too complacent. Some are ditching old training sessions and trying new things like coaching witnesses on how to report demeaning behavior.

Year to date Sep. 30, 2017. Dollars in thousands.

Quicken Loans, Citizens Bank and Better Mortgage are refinancing loans using Airbnb income as part of a pilot project with Fannie Mae.

Capital One has been rolling out coffee shops where it can offer banking services — but are not considered branches. The cafes have been especially effective at gathering deposits, putting more pressure on community banks that have already been losing deposits to their larger rivals.

The legislation, a similar version of which passed in the last Congress, would give favorable regulatory treatment to certain loans even if real estate-related fees were paid to an affiliate of the lender.

Nine lenders have been warned by the U.S. that they will be kicked out of a top mortgage program within months unless they find ways to stop costly rapid refinances of veterans' loans.

Additional consolidation would not strengthen the industry, but would instead leave consumers with less choice and reduced access to financial services.

As conservator, FHFA Director Mel Watt has substantial leeway to remake the government-sponsored enterprises without congressional input. Here's one way he might do so.

Patriot National in Connecticut planned to build a regional small-business lending operation on its own — until it had a chance to buy a national platform.

Bank of America hired Davis Polk & Wardwell to conduct an internal review of a $292 million chargeoff in the fourth quarter, according to a person familiar with the matter.

Investors, a former serial acquirer that has been sidelined by an informal order tied to Bank Secrecy Act compliance, has hired an executive from EverBank.

Regulators have repeatedly found that financial firms with more than $100 billion in assets can pose systemic risks.

Citigroup said an Italian court rejected a €1.8 billion ($2.2 billion) civil claim filed by Parmalat against the bank over the food company's collapse in 2003.

At least eight banks are in various stages of formation, including two that have opened. While that is nowhere near the de novo activity of the early 2000s, it's a positively brisk pace compared with the standstill that existed for many years after the financial crisis.