Economy

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.

PacWest's shares soared as much as 96% in U.S. trading Friday, while Western Alliance Bancorp rose as much as 59%.

The fund, which aims to create a self-sustaining, nationwide secondary market for CDFI microloans, has made progress, but it remains far short of its goal, its managing director said.

A potential pause in the cycle by the Federal Open Market Committee is welcomed by housing industry observers, but inflation and inventory hinder activity.

The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.

Her statement calls out "a fundamental misunderstanding about the fees" following concerns expressed by two congressmen and others about their impacts.

The U.S. and other Western nations have imposed severe financial penalties against Russia. Will this boil over into other countries?

The Green Bay bank has seen stable performance since its recent strategy overhaul.

The Dallas-based bank expects some of the recent deposit outflows to return in the future.

After seeing deposit increase over the second half of March, CFO Dermot McDonogh restated the New York custody giant's guidance for a 20% year-over-year jump in spread income, hinting the company might actually overshoot its target.

The Connecticut bank joins Zions Bank and Leader Bank in recent upgrades to the technology they use to serve this market – and hopefully snag customers who fled Silicon Valley Bank after its failure.

Banks could be in for a long, slow trickle of bank failures and consolidation in the coming months and years, particularly if inflation persists and interest rates keep rising. A downturn in commercial real estate could add to banks' problems.

Lexicon Bank's cautious approach to its balance sheet helped it weather the pandemic and avoid some of the mistakes that plagued other failed banks.