Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.
In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.
The Federal Reserve released the volume of activity on its instant payments network since its launch last summer, showing a surge in usage between July and August.
The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling victim to a crypto scam.
The embattled crypto bank announced that it will reduce operations and move to preserve capital after losing its banking partner earlier this month.
The Federal Reserve governor said the Supreme Court ruling could bring needed transparency and efficiency to regulatory policymaking.
In a congressional hearing, top officials from the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency said no new rules will be adopted or proposed this year.
Robert Thompson was charged with using nonpublic information about New York Community Bank and Capital One to execute stock trades. His guilty plea could come with up to 25 years behind bars.
Small Business Bank in Lennox, Kansas received another cease-and-desist order from the Federal Reserve for failing to comply with anti-money laundering and Bank Secrecy Act requirements for the second time in 14 months.
Industry Bancshares has been bogged down for years with unrealized losses. The Federal Reserve issued a cease-and-desist order against the firm, following similar actions by other agencies.