Class B-7 of DLJ Commercial Mortgage Corp. mortgage pass-through certificates, series 1999-CG3, has been downgraded from B-minus to CCC/DR2 by Fitch Ratings. In addition, Fitch lowered the distressed recovery rating on class B-8 from DR5 to DR6 and affirmed the ratings on 13 other classes in the deal. The downgrade was due to an increase in losses and expected losses that will affect the class "severely," the rating agency said.
AI is leaving its marks in a wave of recent pro se litigation with fabricated citations and debunked arguments found throughout lawsuits, attorneys say.
Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.
The D.C. Circuit Court of Appeals halted the Trump administration's attempt to fire nearly two-thirds of the Consumer Financial Protection Bureau's workforce, upholding a March 2025 injunction.
Anthropic's head of banking told New York Banking Summit attendees that the future is agents that operate autonomously alongside employees.
The industry association said total multifamily mortgage debt alone increased by $23 billion, or 1% in Q1, representing a $2.32 trillion increase from Q4 2025.
Chair Travis Hill said SVB showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.
