The Latest

Stocks came under pressure, with Treasury yields surging to multiyear highs amid persistent concern that a hawkish Federal Reserve will raise the odds of a recession.

Disclosure requirements have been in place since 2019, but until now it has been unclear whether the disclosures should adhere materially or exactly to templates.

The development, touted as an industry-first, is the latest move by the government-sponsored enterprises to expand housing opportunities for first-time and underserved homebuyers.

In a first for the sector the pool will include medical receivables that comprise a small, but increasing, percentage of its current managed portfolio.

Investors seem more inclined to bet on the health of consumers now than the strength of companies, judging by bond market sales.

Almost two-thirds of banking executives believe the U.S. will see its highest interest rates this cycle in the first half of next year. And close to 60% of executives said they are concerned the Federal Reserve is hiking rates too quickly.

BofA, JPMorgan Chase, and Wells Fargo saw net charge-off rates in their credit-card portfolios decline from the second quarter even as spending soared.

Quarterly numbers also show the smallest gain in appreciation since 2011, with values decreasing on an unadjusted basis, according to Fannie Mae.

In a post-lockdown world, some 29.3% of the borrowers in the pool are considered self-employed, higher-than-average compared with recent jumbo prime deals.

Bank of America won't cut jobs in its investment banking unit despite the recent slowdown and plummeting fees tied to deals, says CFO Alastair Borthwick.