Will the FHFA’s vision for the Federal Home Loan Banks work?
The Federal Housing Finance Agency says it wants to more closely tether Federal Home Loan Bank advances to housing and community development. Doing so will first involve clearly defining the FHLBs’ mission through regulation.
Synchrony Financial bought Pets Best ahead of a pandemic-driven boom in the pet insurance business. Now it's selling the subsidiary for a $750 million after-tax gain.
The Federal Reserve's vice chair for supervision said new definitions around community development activities and the ability for banks to invest outside their immediate assessment areas could be a boon to Native Americans and their communities.