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Natixis’s co-head of structured credit and credit trading has left the bank to join New York-based private equity shop Blue Owl Capital, as the firm seeks to step up its efforts in the collateralized loan obligation market.
Mizuho Securities’ head structurer of collateralized loan obligations has joined New York-based private equity firm Blue Owl Capital as it makes a push into the broadly syndicated CLO industry.
Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.
Only about 31% of the bank’s shareholders voted Tuesday in favor of a nonbinding “say on pay” resolution. The harsh verdict followed a one-time award of $52.6 million in stock options to keep Chairman and CEO Jamie Dimon on the job for five more years.
Federal Reserve Bank of Chicago President Charles Evans plans to retire early next year, the bank said Thursday.
The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.
The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.
The long-awaited Community Reinvestment Act reform plan is likely to address climate change and bank partnerships with nonbank lenders, while also taking into account the shrinking number of U.S. bank branches, government officials said Monday.
Credit unions and banks need to ask themselves if they're finding ways to say "yes" to consumers who too often hear "no" from mainstream institutions. Otherwise, they perpetuate a system that excludes the poor and people of color and drive them toward nonbanks, said Pablo DeFilippi of Inclusiv Network and other experts.
The complaint seeks unspecified damages over the bank’s mortgage origination and underwriting practices, alleging minority homebuyers were excluded from affordable, low-risk loans.
The researchers found that the disparities that emerged from the analysis of 1.8 million appraisals from 2019 and 2020 were statistically significant.
Goldman Sachs Group Inc. equities traders posted a decline in the fourth quarter, adding to evidence that the frenzied activity touched off by the pandemic is cooling, even as the bank ratcheted up payouts for employees.
The Federal Housing Finance Agency found several comments that could lead to fair lending concerns in the “neighborhood description” section of reports.
More than 180 community development financial institutions and minority depository institutions will receive the federal funds under a pandemic-era program. “It’s a lifesaver,” a credit union CEO said.
Business and regulatory pressures were already weighing on aging executives before the onset of the pandemic led many to delay retirement plans. Now as the crisis eases, an increasing number are finally stepping down.
The organizations have created the Racial Equity Accelerator for Homeownership, a two-year incubator for the development of innovations to address racial inequality in wealth and housing.
The proposal calls for a 20-year mortgage with Ginnie Mae and Treasury participation, but critics suggest that other measures would be more effective in bridging the gap in home equity.
Sandra Thompson, who has been acting director of the Federal Housing Finance Agency since June, has won backing from the mortgage industry and community groups for the experience she brings to the role. The push comes as the administration is said to be considering Mike Calhoun of the Center for Responsible Lending.
The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.
In a recent securitization with Capital One, RBC Capital Markets gave a bigger role to small firms owned by minorities and women. It’s one example of how banks are striving to be more inclusive.
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