Economy

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of the Mortgage Bankers Association.

The ongoing bull market produced more fee income, interest income and new business at the Boston custody bank, which reported a 9% gain in revenue.

Trading on Friday afternoon pushed the cryptocurrency's market capitalization above $100 billion for the first time ever.

Some housing groups are warming to an idea that they say could help more Americans benefit from housing-related subsidies than the mortgage interest deduction.

The Providence, R.I., company surpassed its goal for return on tangible common equity that it had set for itself after its initial public offering.

The Green Bay, Wis., company's CEO predicted “mid-single-digit” annual loan growth after a third quarter that included a 10% increase in deposits and 4% rise in average loans.

The Connecticut company, which is nearing the threshold to become a systemically important financial institution, has bought three businesses in the past year.

With online retailers beginning to challenge the dominance of brick-and-mortar grocery stores, CRE loans to strip mails anchored by them look riskier.

More than 20 different states are part of the Juntos Avanzamos network, with dozens of CUs participating from across the country.

The $36.3 billion-asset bank reported double-digit growth in C&I loans, commercial real estate loans and specialty loans to the private-equity, entertainment and energy industries in the third quarter.

Acting Comptroller of the Currency Keith Noreika pushed back against concerns that his agency's proposed fintech charter will unduly benefit nonfinancial firms.

Robust growth in net interest income, combined with a lower provision for loan losses, helped boost Webster Financial Corp.'s profits to a record $62.4 million in the third quarter, 26% higher than a year earlier.

The New York bank's total loans rose 8% to $31 billion from a mix of commercial real estate and specialty finance credits.

Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations,

Growth in asset servicing offset declines in fees from foreign exchange and depositary receipt activity.

In a moment of rare unity, the Independent Community Bankers of America and National Association of Federally-Insured Credit Unions sent a joint letter to FHFA arguing to stop the GSEs' profit sweep.

Profits at the custody bank rose 16%, but it announced a new streamlining program that is expected to generate yearly savings of $250 million by 2020.

The company, which plans to change its name to Hancock Whitney next year, reported increased profit that reflected balance sheet growth.

Burgess, chairman of FirstCapital Bank of Texas, succeeds Dorothy Savarese, of Cape Cod Five Cents Savings Bank in Massachusetts, as chairman of the American Bankers Association.

Frederick Waddell will retire as CEO of the Chicago custody bank at the end of 2017 but will remain chairman.