The Federal Agricultural Mortgage Corporation on Thursday announced that Jeffrey Plagge—a former American Bankers Association chair—and Kevin Riel have been elected as the newest members of the company’s board of directors. They replace Dennis Brack and Everett Dobrinski, both of whom chose not to stand for re-election.
MetroCity Bankshares has agreed to buy First IC Corp. in Georgia. Planters Holding has agreed to buy BSJ Bancshares in Louisiana.
Industrial production increased 0.7% in February from the previous month, the Federal Reserve reported. The February figure was up 1.4% from a year prior.
Housing starts increased by 11.2% in February from the month prior to a seasonally adjusted annual rate of 1.5 million, the Commerce Department reported. The rate was 2.9% below the February 2024 level.
FHFA Director Bill Pulte has named himself chairman of the Fannie Mae and Freddie Mac boards. Both boards also removed several members and made new appointments.
ABA joined other plaintiffs in filing a motion for summary judgment in a lawsuit challenging an Illinois law restricting interchange fees, pointing to the court’s previous finding that the plaintiffs were likely to succeed on their argument that...
President Trump nominated Federal Reserve Governor Michelle Bowman to be the Fed’s next vice chair for supervision.
