Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.

Borrowers in the pool are well off, with median annual income of $315,283, non-zero weighted average (WA) asset reserves of $406,325 and high residual income.

In a 5-4 Supreme Court decision two years ago, the bureau’s rulemakings survived intact. But a pair of pending cases that challenge the agency's funding through the Federal Reserve are again seeking to invalidate every action the CFPB has taken since 2010.

Supported by 2,785 loans to prime borrowers, the pending transaction is the fifth term securitization from BHG 2022-B, sponsored by Bankers Healthcare Group.

Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.

The home prices of the pool are 9.2% above a long-term sustainable level, compared with 9.2% nationally as of April 2022, down 1.4% since last quarter.

A more active Consumer Financial Protection Bureau, competition from Big Tech and sanctions on Russia are combining to make compliance a much larger concern than in the past, according to legal experts who spoke at American Banker's Payments Forum.

Purchasing mortgage-backed securities—and that strategy is not out of the question as the central bank works to promote equilibrium in the housing markets over time.

The lawsuit filed by the Philadelphia company's CEO claims an opposing board faction lacks a quorum. Hill seeks to bar the group from reinstalling founder Harry Madonna.

Home price values of the underlying pool are more than 10% above a long-term sustainable level. The sustainable level from a national point of view is 9.2%.

A low charge-off rate and an increasing monthly payment rate are credit hallmarks of the latest deal.

Depository originators lose 68 cents per $1 more than their nondepository competitors.