Banking

Goldman Sachs Group posted a surprise jump in its trading business, rounding out a stellar quarter for Wall Street’s biggest banks.

The San Francisco bank reported a 26% increase in its third-quarter earnings, thanks to robust single-family, multifamily and commercial real estate loan activity in New York, Boston and its home city.

Banks, credit card issuers and debt collectors all supported the Consumer Financial Protection Bureau’s revised regulations. But they face a steep learning curve in complying with the rules, which take effect Nov. 30.

Climate First Bank in St. Petersburg, Florida, is offering loans for condominium improvements that will reduce carbon emissions while fortifying buildings against serious weather events. More banks may implement similar programs in the years ahead.

Those leaving forbearance or other relief plans generally had higher credit utilization rates, were more likely to have mortgages, and experienced lower levels of bank card delinquencies, according to TransUnion.

Through these partnerships, lenders can diversify their portfolios and even help members recoup their investment by selling or gaining credits for excess energy.

Commercial borrowers are leaning more often on alternative lenders that provide better speed and flexibility. At the same time, some banks are turning their backs on what has long been a bread-and-butter business.

Many banks are still making loans tied to the scandal-plagued benchmark despite years of preparation for its demise. The end of 2021 could prove hectic as bankers scramble to implement changes and explain them to commercial borrowers.

The transaction is also the first securitization for ACREC. The entity is also taking on multiple roles, acting as sponsor, issuer and collateral manager.

To help determine certain forms of credit enhancement and loss triggers, LendingPoint 2021-B is tightening its definition of what a charged-off account is.