The Federal Reserve Bank of Cleveland today announced the appointment of Beth Hammack as its next president and CEO. Hammack will take office on Aug. 21, succeeding Loretta Mester, who is stepping down at the end of June in accordance with mandatory age and length-of-service policies. Hammack most recently was co-head of global financing at Goldman Sachs.
While 69% of bankers are "extremely" or "somewhat likely" to remain with their current core provider at the next renewal, when they do pursue core conversions, the primary reason is poor customer service, according to ABA's survey results.
The overall financial health of U.S. retail bank customers declined in May following two consecutive months of improvement as they confront an uncertain economy and persistently high cost of goods, a J.D. Power survey revealed.
With the number of delinquent credit card accounts increasing by well into double-digit percentages in some cities, the personal finance website WalletHub recently released its updated report tracking delinquencies by location in the U.S.
Vulnerabilities in the global economy cited in the report include moves toward greater economic fragmentation and protectionism that “exacerbate the decades-long decline in economic and productivity growth across many economies.”
In a move intended to reduce the cost of homeownership and eliminate unnecessary burden, HUD recently rescinded more than a dozen regulatory requirements in FHA's single-family mortgage insurance program.
The $2.7 billion-asset Investar will pay $83.6 million in cash and stock for the $1.6 billion-asset Wichita Falls. The deal is expected to close in the fourth quarter.
