Banking

Following New York Community Bancorp's acquisition of Flagstar, the company is ditching the regional bank brands that it long used. CEO Thomas Cangemi calls Flagstar a "neutral" but "patriotic" name that underscores the firm's nationwide expansion strategy.

But a great deal of variation in distress levels were reported between individual markets and property sectors, according to two new reports.

The avoidance of one of the harsher economic scenarios is good news for banks, which are also contending with tighter profit margins and increasing competition for customers. But loan growth and credit quality could be at risk.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

Merchants Bancorp says it will sell a total of four branches to two buyers and focus more on its core residential mortgage lending business. Banks of all sizes have been pruning branch networks in recent years.

When 55 banks were asked to provide metrics on the health of their commercial real estate borrowers, some of them gave data that was six months old. The survey by Moody's Investors Service also found that certain borrowers are already struggling, and others could hit trouble soon, since they'll need to refinance at high interest rates.

As the Latino population in the U.S. expands, so does the business case for banks and credit unions that want to tailor services for this audience.

The Department of Justice is recommending a sentence of 12 months behind bars for Carrie Tolstedt, a former Wells executive who has pleaded guilty to obstructing a bank examination. That's harsher than the recommendation of the U.S. Probation Office.

The Department of Justice cited American Bank of Oklahoma's lending record, as well as racially inflammatory emails it claims bank employees forwarded, in support of its redlining claims.

The Consumer Financial Protection Bureau said it would determine whether its victims' relief fund could be used to make payments to affected consumers because companies that agreed to settle allegations of illegal telemarketing practices are insolvent.

Followers of Islam cannot pay interest on loans. Androscoggin Bank figured out a way to structure a new product that addresses that challenge and paves a path to more homeownership.

The work-from-home era has wrecked old assumptions about the need for office space, leaving an unprofitable glut in the market, Willy Walker said.

Home-purchase applications fell to the lowest level in a generation last week — and demand may be depressed even further when the pandemic-era freeze on student debt ends in October, according to a poll conducted by Pulsenomics LLC among more than 100 housing experts. 

Forget special offers, ubiquitous branches and promises of convenience. Younger clients want to see state-of-the-art technology and hear good things from friends and family, according to a recent Arizent survey.

The job cuts come amid caution about the industry's growth potential in the second half of the year. Some 45,000 positions have been lost in banking and related industries over the last two-plus years.

Demand-driven inflation will continue to be a problem in the U.S. economy until we somehow work through trillions of excess liquidity provided by the Federal Open Market Committee, writes the Chairman of Whalen Global Advisors.

Banks pay millions of dollars each year to have their names become part of the lexicon of sports-obsessed Americans. Here's a look at the largest deals, which span pro baseball, football, basketball, hockey and soccer.

Banking and credit union regulators encouraged compassionate treatment of customers in Hawaii communities hit by wildfires. They also vowed to grant expedited approvals of temporary banking facilities, be flexible in compliance matters and provide other support to financial institutions.

The Federal Housing Finance Agency is adding advanced models that include rental payment histories and trended data, but others tap cell phone or consumer-permissioned bank data.

Removing such debt information from consumer reports generated an uptick in home loan inquiries in one study and other industries have found advanced score use pays off.