Banking

Potters, who has headed CMBS businesses at SocGen and Merrill Lynch, will focus on digital and automated commercial real estate loan securitizations.

The Secured Overnight Financing Rate has benefited — amid the phaseout of Libor — from positive comments by regulators. Is a multirate environment, which some banks would prefer, still possible?

Key retail vacancies, a drop in office occupancies, plus a combination of lower oil prices, a housing market oversupply — worsened by the coronavirus pandemic — caused loan-level performance issues.

The Alabama bank is buying Clearsight Advisors to add to its booming capital markets division.

More than 180 community development financial institutions and minority depository institutions will receive the federal funds under a pandemic-era program. “It’s a lifesaver,” a credit union CEO said.

The deal for Summit Financial furthers First Financial’s strategy of acquiring national niche business lines.

Business and regulatory pressures were already weighing on aging executives before the onset of the pandemic led many to delay retirement plans. Now as the crisis eases, an increasing number are finally stepping down.

In a semiannual report on trouble spots in the banking sector, the Office of the Comptroller of the Currency raised concerns that banks are taking on too much risk in pursuit of earnings growth.

After Democrats failed last year to rally support for a federal 36% limit, House and Senate proponents are trying to capitalize on the momentum from state rate caps that recently passed on a bipartisan basis.

The deal’s sponsor has issued a small rated portion to investors and sold the remainder back to loan-originator.

The sponsor’s Fortune 500 parent provides comfort in the face of the subprime-auto industry’s woes.

In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”

Trustmark Bank agreed to pay $9 million to resolve allegations that it discriminated against Black and Hispanic residents in Memphis, Tennessee. Attorney General Merrick Garland said the Department of Justice and other agencies will continue their crackdown.

The industry is prioritizing Black and Hispanic consumers in the interest of social equity and to tap new markets amid declining refinance volume and rising rates.

Federal and state banking agencies released a joint statement calling on financial institutions to conduct the "due diligence necessary" to select a new reference rate benchmark that is suitable for their risk profile.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

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.