Banking

Former Flagstar CEO Alessandro DiNello, who had been New York Community's nonexecutive chairman, was named executive chairman after the Long Island bank's stock price fell by more than 59% in a week. New York Community also issued updates on both its deposit situation and its search for a new chief risk officer.

The majority of users are looking for new credit lines and others want to improve their scores. Credit monitoring by consumers may be a good indicator of both, Transunion found.

The Independent Community Bankers of America, American Bankers Association and other groups filed a lawsuit arguing that recent reforms to implementing regulations for the Community Reinvestment Act exceed statutory authority.

A day after the regional bank's stock tumbled on tough fourth-quarter results and some austerity moves, observers debated whether management just needs time to build enough capital to catch up with growth or if it is still too overexposed in multifamily lending.

With tougher capital requirements looming, a number of regionals including U.S. Bancorp, Huntington and Santander are using these new instruments to share risk with nonbank investors and lighten their capital load. Experts point out the pros and cons.

The parent company of Flagstar Bank surprised investors by slashing its dividend, charging off two large real-estate loans and preparing for more trouble in the office and multifamily sectors.

The megabank failed to adequately protect and reimburse customers who were victims of wire-transfer fraud, according to a lawsuit by the New York Attorney General. Citi said that it follows all relevant laws and regulations.

Cullen/Frost in Texas, BankUnited in Florida and Bank OZK in Arkansas are among the banks that have, at least for now, allayed investors' fears about their exposure to the CRE sector.

Dark Matter CEO Rich Gagliano and CRO Sean Dugan join National Mortgage News to discuss how they're thinking about Empower pricing, new products and other key issues in mortgage technology in this livestreamed discussion.

Workers are eligible for the one-time cash grants if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000. The payments come amid a unionization push at the San Francisco-based megabank.