by Ken Chase | Aug 24, 2023 | News
This week, in a letter to Senate and House committees, the American Bankers Association offered support for a new home finance bill. The Neighborhood Homes Investment Act is aimed at helping to finance neighborhood renewal. It also has the support of Democrats and...
by Ken Chase | Aug 12, 2023 | Banks, News
In separate announcements, The SEC and CFTC confirmed actions against Wells Fargo and ten other Wall Street companies. The charges allege that the companies failed to properly maintain records of their employees’ communications, as required by federal law. That...
by Ken Chase | Aug 12, 2023 | Banks, News
Moody’s moved to downgrade credit ratings for ten U.S. banks this week, citing concerns about funding risks and profitability challenges within the banking sector. In addition, the firm also confirmed that it has placed six of the nation’s largest banks under review...
by Ken Chase | Aug 4, 2023 | Banks, News
The Federal Reserve released its Senior Loan Officer Opinion Survey this week. The quarterly survey report found that banks have tightened their credit standards for lending. Meanwhile, consumer loan demand has weakened, as interest rates have risen as part of the...
by Ken Chase | Aug 4, 2023 | Financial, News
Fitch Ratings has downgraded the U.S. credit rating from AAA to AA+ this week. The agency cited fiscal deterioration, growing debt, and an erosion of good governance as reasons for the downgrade. Specifically, Fitch pointed to repeated debt limit standoffs, complex...
