The Bank of New York Co. Inc. has reported that BNY Trust Co. of Missouri, an indirect subsidiary based in St. Louis, has agreed to acquire the corporate trust business of Intrust Bank NA, Wichita, Kan.The terms of the agreement were not disclosed. The transaction involves the transfer of more than 300 bond trust and agency appointments for corporations and municipalities in Kansas and surrounding states. The Bank of New York provides trust services for a variety of debt products, including mortgage- and asset-backed securities.
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Fannie Mae and Freddie Mac are under directives to make mortgage-backed securities purchases that can exert downward pressure on rates or limit increases.
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The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a joint notice of proposed rulemaking for the Community Reinvestment Act that would tailor requirements for smaller institutions and monitor which groups receive community development grants.
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Christopher J. Gallo, formerly of NJ Lenders Corp., generated billions of dollars in loan volume over a five-year stretch that prosecutors scrutinized.
July 30 -
The Wall Street Journal reported federal whistleblower allegations exist, citing unnamed sources and viewed documents, but the firm said it has seen no proof.
July 30 -
The homebuilder's net income for the second quarter was half of what it was a year ago but a seasonal lift improved results relative to the first quarter.
July 30 -
Fintech GoodLeap is buying homeowner relationships for renovation loans with rewards and originators competing on rate alone may be behind.
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