Through the Financial Services Volunteer Corps, thousands of U.S. bankers are coaching emerging-market banking systems to maturity and growth.
Author Kerry O'Leary
Americans’ expectations for how much they will spend next year rose in October to 3.5 percent, following three consecutive monthly declines, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations. However, the outlook for household income growth over the next year fell sharply in October to 2.3 percent, the largest
Fannie Mae today said that it earned net income of $2 billion in the third quarter. Like Freddie Mac’s report this week, Fannie’s profits fell year-on-year, landing well below the $3.9 billion earned in the third quarter of 2014. Fannie’s decline in profits was mainly due to derivatives losses, the GSE said. The company said
Freddie Mac today reported a $475 million loss in the third quarter, down from a $4.2 billion profit in the second quarter of 2014 and marking Freddie’s first loss in four years. The drop in Freddie’s income was largely due to derivatives losses, which totaled $4.2 billion. The company will not have to draw from
Banks stride in unison with agencies, nonprofits to serve veterans.
The Corporation for American Banking, an ABA subsidiary, today announced that its endorsed mortgage lending programs saved actively participating ABA member banks more than $15 million in 2015, an average of more than $21,000 per institution. “On behalf of our bankers, we have negotiated advantaged terms with leading companies in the industry,” said ABA
Fannie Mae’s and Freddie Mac’s combined second-quarter income rose to $8.8 billion from $2.4 billion in the first quarter, the Federal Housing Finance Agency reported today. The increase was attributed mainly to interest income and gains on derivates, the agency said, adding that the GSEs also saw a $2.2 billion decrease in loan loss reserves
ABA today released a first-of-its-kind, searchable database of enforcement actions against financial institutions by federal agencies. Civil money penalties and consumer restitutions associated with BSA/AML, ECOA, FDPA, FHA, HMDA, RESPA and UDAP/UDAAP from January 2012 to September 2015 are included in the catalog. Data is organized by parameters such as bank name, asset size and
More than 616,000 borrowers in the second quarter refinanced their Fannie Mae or Freddie Mac mortgage loans, with about 31,000 of those happening through the Home Affordable Refinance Program, the Federal Housing Finance Agency said today. HARP refinances in the second quarter were down slightly from the previous quarter, dropping by less than 1,000. Seven
Mobile banking is preferred by 12 percent of consumers, a fourfold increase from five years ago and up two points from last year, according to an Ipsos Public Affairs survey conducted for ABA. Online banking is still the most preferred banking method, however, with nearly one-third of respondents saying they prefer to bank online —