CIT Bank and Simple recently started offering higher yields on the condition that customers make regular contributions to savings. The offers are designed to help the banks avoid rate wars, but some analysts question whether they will appeal to enough consumers.
Liang is currently a senior fellow at the Brookings Institution in Washington and previously led a Fed board division in charge of financial stability policy and research.
The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information.
The combination of rising interest rates and increased competition from nonbank lenders is prompting many commercial real estate investors to seek better deals elsewhere.
Despite some green shoots in key credit segments, total loan growth was light at many banks last quarter. Rate hikes are threatened, and deposits will get pricier — where will the earnings come from?
Price competition on deposits may finally force the largest banks to pay up, and consumers’ aggressive use of rewards and promotional rates is weighing on card income. And then there are those tariff fights that could hurt global clients.
Virginia National will set aside up to $950,000 to cover losses after ReliaMax, a firm that issues surety bonds for student loans, was placed into liquidation.
