In a further illustration of weakness in the auto sector, Ally Financial said Tuesday that its 2017 profits will likely be dinged by rising delinquencies on subprime auto loans, as well as by falling used-car prices.
During a panel discussion Tuesday, regulators said they are trying not to crack down too hard on sales incentive programs and fix problems that bankers have identified with the exam system.
Freddie Mac is bolstering its relationships with housing finance agencies after it fell short of reaching two critical affordable housing goals last year.
So-called performance-share units are pushing aside stock options as the preferred long-term incentive pay for bank executives. Many investors and regulators fear that options can encourage reckless conduct and have other shortcomings, though options still have supporters.
Though it's too early to have a concrete plan regarding Fannie Mae and Freddie Mac, the administration is creating a set of principles that it hopes to release in a few months, a senior official said Tuesday.
Retail-focused Provident Bank has added an on/off switch that allows customers to suspend their debit cards. A few big banks rolled out similar features last year.
The Federal Deposit Insurance Corp. said the Deposit Insurance Fund is projected to reach 1.35% of insured deposits next year, well ahead of a 2020 deadline.
Strong rebounds in consumer activity produce strongest overall reading in nearly a year. Consumer loan application activity accelerates in all regions except the West.
