Economy

Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.

Outsiders gained access to customer information at Southern National Bancorp of Virginia using a malicious email. Other financial institutions, meanwhile, are implementing policies in hopes of avoiding the same fate.

The battle lines are drawn between those seeking to protect the mortgage interest deduction and a legislative effort to greatly reduce its use. Hopefully, this is a battle that taxpayers will win.

A bill that would ease Basel III capital requirements on commercial real estate loans could level the playing field between depository and nonbank lenders and spur more construction lending if it passes in the Senate.

Ronald O’Hanley withdrew from law school at Vanderbilt University in 1983 after admitting to plagiarism while editor-in-chief of the school’s law review, according to a news report.

The authority of the Financial Stability Oversight Council to label a firm a “systemically important financial institution” triggers duplicative regulation even if banklike rules are not appropriate to the company.

Fintechs should learn to value risk management — and the necessary bureaucracy that comes with it, bankers said this week in defending themselves again criticism that they are a pain in the neck to work with.

Endeavor Bank in San Diego aims to be the third new bank to open this year. There is hope that as many as eight new institutions could open in 2018.

Mobile banking, oddly enough, is redefining the role of call center agents as customers handle routine tasks on their smartphones and reach out for help with bigger-picture questions.

Acting Comptroller of the Currency Keith Noreika called for reopening the debate over the barrier between banking and commerce, saying there is evidence removing it could benefit small banks.

The heads of some of the largest U.S. banks are calling for a new security-focused mindset among executives, better forms of ID and collective action in the aftermath of the Equifax breach.

More FHA homeowners than expected are refinancing out of the program and into conventional mortgages, despite an increase in mortgage rates over the past year.

With marijuana sales set to become legal in California soon, a working group there says that a state-backed financial institution should be among the measures weighed to address the lack of banking services available to the pot industry.

The companies' recently launched partnership furthers the argument that the banking and fintech industries might be better served working together rather than competing.

Capital Corps, led by Steven Sugarman, aims to provide financing to homeowners and small businesses that it believes are overlooked by banks. The firm features several former Banc of California executives.

The online small-business lender, which has been cutting expenses, said it is on track to achieve profitability in the fourth quarter.

Add MUFG Union to the roster of traditional banks launching a digital division that aims to grab deposits. PurePoint is going up against some more established competitors who are evolving their strategies.

Prince Alwaleed bin Talal, the billionaire with significant stakes in Citigroup and Twitter, was arrested by Saudi Arabian authorities as part of an alleged anti-corruption purge in the kingdom.

Ira Robbins, the CEO-in-waiting at Valley National Bancorp, will have to complete a major acquisition, make the bank more competitive on returns and costs and tackle other difficult tasks after taking over for Gerald Lipkin.

Growth in loans with higher debt-to-income ratios is reviving focus on a regulatory exemption for Fannie Mae, Freddie Mac and other federal agencies that back mortgages.