Low rates spur more retail lending at big U.S. banks as trading revenue drops; the company’s plan to create its own digital currency runs into more opposition.
Citi’s chief lending officer to take over HSBC’s U.S. business; Pittsburgh banks brace for incursion of industry heavyweights; borrowing by nonbank leveraged lenders is growing (maybe too much); and more from this week’s most-read stories.
Freddie Mac CEO Donald Layton has joined the Harvard Joint Center for Housing Studies as a senior industry fellow focused on reform of the government-sponsored enterprises.
The New York bank has recruited a dozen commercial lenders from PacWest, Wells Fargo and other rivals, continuing its shift away from its historic reliance on multifamily lending.
The bank believes its U.S. unit will pass this year’s stress test but Fed restrictions will stay; COO is the second member of CEO’s inner circle to leave.
Digital currency plans spark concerns from global financial regulators and U.S. legislators; departures continue as two top dealmakers seem ready to leave.
The company will create a regulated subsidiary offering a digital wallet; San Francisco Fed wants CRA credit for loans that help prepare for climate change.
