Commercial banking

As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.

Often a harbinger of recessions, the fact that short-term yields are higher than long-term is not inherently bad, Federal Reserve Gov. Chris Waller said Tuesday, noting that in this case it could prove that market expectations are anchored.

On average, the borrowers have a non-zero FICO score of 723, the same as VZMT 2023-6, Fitch said. Accounts with upgrade eligibility account for 56.12% of the pool, slightly lower than the previous deal.

Pierre Naudé is nCino's chairman and chief executive officer

Ben Miller is chief executive officer of SimpleNexus.

The Consumer Financial Protection Bureau released a report last week examining state CRA laws that have a more expansive scope and are more tightly integrated in the state licensing process.

Sara Shipley, the chief human resources officer (CHRO) and chief transformation officer at INSTANDA, is a dynamic HR leader with a rich history of success in the retail, insurance, and technology sectors. Passionate about transformation and ESG (Environmental, Social, and Governance), Shipley's impactful journey extends from her pivotal role at Hiscox to her current leadership at INSTANDA, where she continues to drive innovation and HR excellence while championing responsible business practices.

Ann Minzner Conley is senior vice president, Complex Risk and Strategic Analytics, Risk Engineering Services at Chubb.

Maria Guercio is senior vice president, Climate Tech Industry Practice Leader, North America at Chubb's Climate+.

The withdrawal of pandemic housing relief and high home prices have heightened consumer strain, according to nonprofit Money Management International.

Total sales of new asset-backed securities are projected to reach $280 billion next year, edging out the $277 billion forecast for this year, strategist Powell Eddins wrote in an Oct. 31 note.

Dr. Rhonda Randall is the chief medical officer of employee and individual at health benefits company UnitedHealthcare.

Raymond Natter is of counsel at Squire Patton Boggs and served as deputy chief counsel of the Office of the Comptroller of the Currency from 1995 through 2004.

The transaction structure benefits from several forms of credit enhancement to the deal, including advance rates of 55.0%, 66.5% and 76.5% on the classes A, B and C notes, and a rapid amortization trigger event.

Heads of the three major bank regulatory agencies made their case for why the recently finalized framework implementing the Community Reinvestment Act is not all bad for the banks subjected to it.

Full-term, interest-only loans account for 98.4% of the pool, while just two loans, or 1.6% are financed with an amortizing balloon. Analysts expect a cap rate of 9.19% capitalization rate to the underlying properties.

Karen Kerrigan is president and CEO of the Small Business & Entrepreneurship Council.