Trump ‘uncertainty’ contributes to hawkish shift at Fed
The Federal Reserve lowered its policy rate but signaled a more “cautious” approach to future cuts in light of higher inflation expectations. Policy uncertainty was one of several contributing factors to that change in forecast.
Banner year for CU-bank tie-ups extends with deal in Maryland
Hanscom Federal Credit Union in Massachusetts said it would acquire Peoples Bancorp and its insurance agency. It marked the 21st deal of the year involving a credit union buying a bank.
BNY expands employee benefits, boosts minimum wage to $25 per hour
BNY announced expanded employee benefits and a boost in its minimum wage for all U.S.-based employees; Synovus has added former FIS executive Greg Montana to its executive board; National Bank Holdings sold off a fifth of its securities portfolio; and
OCC highlights growing pressures in ‘sound’ banking system
The OCC's 2024 annual report said that while the federal banking system remains stable, it faces challenges such as rising credit costs, declining net income, and increasing nonperforming loans.