Banking

The financial data firm Intercontinental Exchange is buying the firm that runs the Ameribor interest rate benchmark, which some community and regional banks back as a LIBOR alternative.

Two trade groups filed a lawsuit against the Consumer Financial Protection Bureau claiming it exceeded its authority and ignored the legislative history on medical debts.

Experian said it has gone "above and beyond the law" to investigate consumer disputes related to the accuracy of information.

The Consumer Financial Protection Bureau finalized a rule that will remove medical  bills from credit reports to end what the bureau called "coercive debt collection practices."

Florida-based Amerant Bancorp recently restructured its securities portfolio after selling its Houston branches.

The Stamford, Connecticut-based bank hired Steven Sugarman to be its president. The former bank CEO, who now heads one of the country's largest mission-based lenders, will help drive an effort to close a capital gap.

Richard "Dick" Parsons, the former Citigroup chairman who died Thursday, is credited with helping the New York megabank survive the financial crisis. Earlier in his career, he led Dime Savings Bank out of the savings-and-loan crisis.

Proceeds from the sale will be used by HomeStreet to pay down Federal Home Loan Bank advances and brokered deposits.

JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.

For the third time in five years, the Office of the Comptroller of the Currency issued an enforcement action against the beleaguered bank. It bars USAA from adding new products or loosening its membership criteria without evaluating the risks of getting bigger.

The bank ends the year with a substantially different profile from early 2024, which brought new leadership, a significant reduction to its mortgage operations and a corporate rebrand.

The post-pandemic increase in consumers falling behind on their credit card bills seems to be tapering off. "For 2025, we're seeing a lot of stability in delinquencies," an industry researcher said.

The Federal Deposit Insurance Corp.'s Q3 Quarterly Banking Profile report highlighted net bank income falling 8.6%, but also showed slow delinquency growth in commercial real estate and core income metrics improving across the banking sector.

Eastern Union put the blame on the other company Fannie Mae suspended, Sevenstone Capital, which was by former employees who left over four years prior.

A slower rate of price increases would boost the likelihood of an interest-rate cut that could expand loan demand and lower banks' deposit costs. A higher pace of inflation, however, could derail those catalysts.

A bot from nCino lets people in the commercial lending department quickly find information in loan documents and in policy manuals that are hundreds of pages long.

A key update of secondary market scores is set to reach the finish line in 2025 but the outlook for whether its current trajectory will continue is mixed.

The Canadian bank fell short of analysts' expectations on non-interest income partly because of a higher-than-anticipated tax rate. Scotiabank's results also included a one-time impairment charge related to its investment in Bank of Xi'an Co. in China.

Residents of Minnesota have the highest average credit score, at 726, beating the national average of 701.

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.