News Topic: Economy

Home prices are rising and first-time buyers now account for an increasing share of sales, factors that could lead to a surge in defaults during the next economic downturn. ... Read full article

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. ... Read full article

Growing home prices plus rising interest rates are putting a damper on mortgage lending, which pushes the market to seek out less qualified borrowers and increases the risk of fraud. ... Read full article

The Thursday morning tweet came in response to comments from JPMorgan Chase CEO Jamie Dimon in which the banker questioned the president's intelligence. ... Read full article

At least six groups are exploring opening new banks in the state, which is enjoying an economic recovery and has a dearth of local financial institutions. ... Read full article

Dark clouds may not yet be on the horizon, but industry executives are sending the message to investors that they know a turn in the credit cycle is coming, and they are planning accordingly. ... Read full article

The legislation, which still needs Senate approval, would let the head of the Small Business Administration raise the program's cap in periods of heavy demand. ... Read full article

James Smith said his late enrollment in the state’s Republican Party meant he would be ineligible to be a candidate in its August primary and that he did not want to disrupt the nomination process. ... Read full article

James Smith said he would decide soon whether he’ll seek the Republican nomination for governor. He said he was inspired partly by his recent work on a commission tasked with recommending fixes to the state’s fiscal and economic problems. ... Read full article

Bankers should be careful in their push to deregulate, as efforts to roll back some crisis-era rules will likely add new risks to the financial system. ... Read full article

Since stepping down as CEO of Webster Bank last month, James Smith has spent much of his time co-chairing a panel tasked with solving his home state’s fiscal and economic woes. Banks, and perhaps even fintechs, could be a part of its comeback story, he ... Read full article

Bank stocks recovered some of their lost value on Tuesday on extremely high levels of trading volume. The lone exception: Wells Fargo. ... Read full article

Bank stocks tumbled on Monday amid a wider sell-off as investors' concerns mounted that wage growth could lead to inflation, higher borrowing costs for businesses and a slowdown in Fed rate hikes. ... Read full article

Federal Reserve Chair Janet Yellen, whose term expires Saturday, will join the Brookings Institution on Monday, the Washington-based think tank said. ... Read full article

Some bankers spread the religion of this year's feel-good World Economic Forum, but others were more circumspect. The list of potential threats remains lengthy — including trade wars and the bursting of the bitcoin bubble — and all pose risks to banks ... Read full article

The economy is ripe for another downturn in the months or years to come, and banks shouldn’t be lulled into a false sense of security. ... Read full article

Improving gender equality could significantly boost growth in advanced economies over the coming decades, according to Citigroup Inc. ... Read full article

The breadth and pace of change across banking and the rest of the business world is rapidly escalating, posing challenges for financial institutions and the economy alike, according to Robert Kaplan, the president of the Federal Reserve Bank of Dallas. ... Read full article