Economy

Private equity shops looking to fill out their 2024 associate classes were forced to do a second round of recruiting this year after initial efforts fell short.

The markets had a muted reaction to the Federal Open Market Committee pause on raising short-term rates a week ago, Freddie Mac found.

Treasury's plan to overhaul the certification process for community development financial institutions will benefit the communities served by those institutions.

Bank of America had a 55% increase in new clients in May, and the lender is planning to bulk up staffing to keep up with demand. 

Economic analysis from the real estate advisory CBRE finds that community banks are particularly imperiled by their exposure to commercial real estate loans. Others see looming risks in indirect lending.

Beach Cities Commercial Bank is set to open in Southern California next week. Rising interest rates and consolidation in recent decades have created more opportunities for investors to form new banks, experts said.

Old National relocates Louisville office following mass shooting in April, American Express brings back $1 million in grants for historic eateries, Adyen speeds payouts for gig workers and more in this week's banking news roundup.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

The Federal Deposit Insurance Corp. said in its quarterly banking profile that the banking industry remains resilient despite a challenging economic backdrop, but exposure to commercial real estate losses and interest rate risks could make continued stability difficult.

Pledges to get to net-zero funded emissions by 2050 appear to be falling by the wayside as oil companies expand their fossil fuel extraction operations.

Two former top bank regulators argue that efforts to eliminate risk from the business of banking is a fool's errand, and say it is time to refocus banks' managers and boards on the business of managing it.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

A pair of mutual banks in Maryland and New York that sold minority stakes more than a decade ago are pursuing second-step offerings that will result in both becoming fully stock-traded companies.

During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.

As the Federal Housing Finance Agency considers how to prepare the system for the future, it can keep member liquidity steady while still boosting affordable housing.

During the pandemic, many banks adopted programs that helped struggling families find stability. Make that a permanent strategy.

In recent years, stress tests have not accounted for some very clear real-world risks. This must change immediately.

Generations United Federal Credit Union's first president and CEO, John Linzey, expects to attract the very customers that banks might turn away if the economy sours.