The federal regulator cited recent “cost savings” and promising projections for costs and revenue next year in announcing the reduction in assessments.
The Midwest regional recently announced a referral partnership with the fintech lender CommonBond. By offering customers an option to refinance student loans at more favorable terms, the bank is hoping to cultivate their loyalty.
The Treasury Department announced the initiative just as the leaders of the three countries signed a multilateral trade pact to replace the North American Free Trade Agreement.
Marriott International Inc. said it’s investigating a hack of the guest reservation database at its Starwood unit that may be one of the biggest such breaches in corporate history. Marriott shares slumped 5.6 percent in pre-market trading.
Banks have criticized the new accounting standard, but it would likely soften future bubbles and reduce subsequent credit crunches by requiring that reserves be held upfront when loans are made.
The central bank may be looking at other benchmarks besides the fed funds rate to conduct monetary policy; dropping human appraisers from most home sales raises concerns.
