#banking-industry

#banking-industry

Diana Reid has been appointed CEO of Freddie Mac, focusing on enhancing housing liquidity and affordability.

Joseph E. Amato will serve as interim president and CEO of the bank while the search for a new leader begins.

Banks are increasingly requiring hybrid workers to return to the office full-time, signaling a shift back to pre-pandemic work norms.

Major banks prefer in-office work over compliance with new home office regulations.

FINRA is reinstating workplace monitoring, influencing banks to bring employees back to offices.

TD Bank is closing seven branches in Massachusetts, focusing on optimizing its network to serve customers better.

The U.S. banking industry is shrinking its physical branch presence due to the rise of digital banking, with 944 branches closed in 2024.

JP Morgan's new role aims to enhance junior bankers' wellbeing following tragic incidents, addressing long-standing industry pressures.

Inequality in the economy is escalating, often unrecognized by economists; the power of personal narratives can be a more impactful means of conveying political messages than traditional economic texts.

Generative AI is becoming integral to Wall Street banks, transforming operations across trading, marketing, and software development.

Wall Street banks are gearing up for earnings season, with a focus on updates on important matters like Jamie Dimon's retirement and banks' AI adoption.

Garden State Home Loans Inc. is being acquired by OceanFirst Bank N.A., promising enhanced services and resources for clients and staff.

Fulton Bank is assuming deposits and assets of Republic First Bank after its collapse due to failure to raise capital and exit from mortgage lending.

The FDIC estimates the failure of Republic Bank will cost $667 million, with Fulton Bank acquiring $6 billion in assets, including an investment portfolio and loans.

Republic Bank specialized in jumbo mortgage products, but its mortgage production was significantly lower compared to Fulton Bank.

M&T Bank stood out as a top performer in the Federal Reserve's stress test, earning praise for its underwriting quality, capital, and net interest margins.

Metro Bank expects to return to profit by year-end after reducing losses through cost-cutting measures.

Some Wells Fargo employees were fired for simulating work activity, highlighting the challenges of remote work monitoring.

CEOs have different stances on remote work policies, with Santander's head valuing work-from-home flexibility.