Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net profit in the second quarter, according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage B...
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Wells Fargo & Company today said it entered into a definitive agreement to sell the non-agency third-party servicing segment of its commercial mortgage servicing business to Trimont, an Atlanta-he...
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State Street Corp. entered into a strategic agreement with Taurus SA to strengthen its digital asset capabilities for State Street Bank and Trust Company clients. Taurus is a digital asset infras...
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The Securities and Exchange Commission (SEC) has charged investor Carl Icahn and his company, Icahn Enterprises (IEP), over disclosure violations. The SEC alleges that Icahn and the company failed ...
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North Carolina will be the latest state to join IRS Direct File for Filing Season 2025, the Internal Revenue Service (IRS) and U.S Treasury announced. After a successful Pilot Program in 12 states ...
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U.S. Rep. Patrick McHenry (R-NC) has reached out to the Consumer Financial Protection Bureau (CFPB) over a proposed rule that would restrict the inclusion of medical debt in credit reports and scores....
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Supermarket chain Kroger plans to decrease grocery prices by $1 billion if its proposed $25 billion merger with smaller rival Albertsons is completed, according to news reports. Kroger previously s...
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As more Americans expect to work past age 70 or hold off on retirement altogether, changes are being proposed on Capitol Hill to increase the age cap for the earned-income tax credit (EITC), which cur...
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Speaking recently before an audience of researchers and economists, Patrick Harker, CEO of the Federal Reserve Bank of Philadelphia cited the importance of using historical data to understand today’...
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A new report on the multifamily lending market found that the volume of loans for multifamily housing dropped 49 percent in 2023. The report, from the Mortgage Bankers Association’s (MBA), said t...
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The Securities and Exchange Commission (SEC) on Aug. 14 announced charges against 26 broker-dealers, investment advisers, and dually registered broker-dealers and investment advisers for widespread, o...
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François Henriquez has been appointed first vice president and chief operating officer for the Federal Reserve Bank of St. Louis. Henriquez, who started Aug. 15, will succeed Kathleen O’Neill, w...
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The U.S. Treasury Department updated the Committee on Foreign Investment in the United States (CFIUS) website to improve communications with the public. The goal of the upgrade is to share more de...
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A bipartisan, bicameral bill pending in both houses of Congress aims to help promote the innovation of artificial intelligence (AI) in the nation’s financial services industry. Specifically, the ...
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U.S. Rep. Dave Joyce (R-OH) introduced legislation that would increase the tax rate on private university endowment profits. The Higher Education Accountability Tax (HEAT) Act (H.R. 9331) would inc...
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U.S. Rep. Mike Carey (R-OH) is working on legislation that seeks to end the practice by the Social Security of collecting overpayments. The bill would prevent the Social Security Commissioner from...
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The NFIB Small Business Optimism Index hit its highest level since February 2022, as it rose 2.2 points in July to 93.7. While climbing, the index came in below the 50-year average of 98 for the 3...
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The Managed Funds Association (MFA) offered some recommendations for the U.S. Treasury Department to consider as they set rules on the use of artificial intelligence (AI) in financial services. In ...
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To help rid the market of predatory and exclusionary home lending practices, the Consumer Financial Protection Bureau (CFPB) today released an advisory opinion and research report on contract-for-deed...
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Two United States senators denounced a threat by JPMorgan Chase & Co. to impose new checking account fees for over 80 million consumers in response to the Consumer Financial Protection Bureau’s ...
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