Latest for Feed
Updated: 46 sec ago
A plan by the largest U.S. bank to use part of its tax windfall to enter new markets (including Washington and Boston) could become a serious threat for banks of all sizes in those cities — or looked backed upon someday as a pricey over-expansion.
The Oregon company grew commercial and consumer lending in the fourth quarter, even though fee income declined sharply.
Consumer lending was a bright spot, but a series of one-time charges, capped by a writedown on its deferred tax assets, led to a nearly $1 billion loss.
Senators overwhelmingly approved Jerome Powell to lead the Federal Reserve Board despite vocal opposition from some Democrats.
The company's earnings, excluding one-time items, increased meaningfully after it cut operating costs.
The New York company recorded more than $130 million of expenses tied to its October purchase of Astoria Financial.
Stepping in after co-founder Mike Cagney's resignation, Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.
Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to join the Federal Reserve Board.
The new tax law took a one-time bite out of fourth-quarter results, but higher rates strengthened yields and new business boosted fee income.
The Consumer Financial Protection Bureau appears to have concluded no enforcement action is necessary for World Acceptance Corp., which had been accused of trying to profit from repeat borrowers.
The Ohio company plans to spend 2018 revising its strategic plan to take into account new opportunities and a belief that an economic correction is long overdue.
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, said his zero-funding request for the agency is not meant to drain the agency of resources.
A federal appeals court on Tuesday agreed to expedite the appeal brought by Leandra English, the deputy director of the Consumer Financial Protection Bureau who has sought to unseat acting Director Mick Mulvaney.
Flagstar Bancorp's fourth-quarter results swung to a loss as the company took an $80 million non-cash charge to earnings because of the tax reform bill.
One-time tax adjustments helped offset ongoing declines in commercial and auto lending at the Cincinnati company.
The Pittsburgh company reported a noisy fourth quarter that included expenses tied to its purchase of Yadkin Financial and a reduction in the value of its deferred tax assets.
NewDominion, which has completed an improbable turnaround, is the last community bank based in Charlotte, N.C.
The Florida company's fourth-quarter results included double-digit loan growth and a $328 million income tax benefit associated with recently passed tax reform.
The results also included a large one-time benefit tied to recently passed tax reform.
Retracting an Obama administration policy that shielded banks servicing marijuana companies threatens financial firms and makes the pot industry too reliant on cash.