In a speech on the central bank's regulatory agenda for the year, Federal Reserve Board Gov. Michelle Bowman said the merger-and-acquisition review process could benefit from added transparency.

LBZZ 2023-1 has a reduced recovery rate assumption on the current transaction at 50%, given deteriorating recovery trends and lower used vehicle values.

The pro-rata/sequential hybrid structure provides some credit enhancement along with cumulative loss and delinquency trigger events and excess spread.

The two banks are now targeting May 27, three months later than their previous goal. The transaction, which would create a top-six U.S. bank by asset size, was originally expected to be completed last fall.

While reverse mortgages allow older homeowners the opportunity to draw on home equity with minimal risk, problems arising from flaws in program structure are causing headaches for borrowers and issuers alike, according to recent reports.

Fitch and Moody's might have differing outlooks on the notes' CNL outlook, but they agree that HDMOT 2023-A's collateral pool is marginally stronger.

The bank was already mulling headcount and compensation reductions in early September.

The buy now/pay later lender posted larger-than-expected losses, and following its layoffs it will deemphasize products with an uncertain short-term outlook, such as crypto trading.

The regulator's proposal adds to measures already in place—net short positions—but critics worry that overzealous application could dampen the market.

The North Carolina bank's new financing program will allow electric car buyers to include the cost of an at-home charging station in their auto loan.

The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.

Retail (36.1%) and office (28.1%) accounted for the largest percentages of loans by far, and the largest percentage of loans is in large metro areas.