The Trump administration's proposed budget would cut discretionary funding for the Department of Agriculture, which could affect a key agency lending program. Bankers are urging legislators to maintain, or even increase, funding.
Earnings season kicked off with some banks capitalizing better than others on higher rates and still-low deposit costs. Banks will have to keep working on that balance as they contend with rising credit card losses, slower commercial lending and other issues.
Net income climbed 13% as as the Fed's hike improved loan yields and the stock market’s surge boosted returns from PNC’s stake in BlackRock, the world’s largest asset manager.
Carter, who built what became Carter Bank and Trust from the ground up, was praised for his “uncanny” credit acumen, devotion to community and family, and willingness to take unconventional risks.
Linda McMahon told lawmakers the 7(a) program shouldn't run out of funds in fiscal 2017. Still, she wants permission to boost the program's funding authority by 15% if an unexpected spike in demand takes place.
