Bessent says he’ll give Trump Fed Chair options in December
The next chair is likely to be named to a 14-year Fed governor term which opens up in early 2026.
FHFA seeks comment on new strategic plan for GSEs
The head of the government-sponsored enterprises’ oversight agency also asked existing investors to review risk factors as officials eye a new public offering.
HUD to lay off 400 employees amid government shutdown
More than 4,000 federal workers received notices Friday that their last day will be Dec. 9.
Bank of America dials up outlook slightly after solid Q3
America’s second-largest bank revised its net interest income target upward after what analysts called a “clean” third quarter.
Loandepot accuses West Capital Lending of rampant fraud
The megalender is accusing a nearby brokerage of skirting labor laws and avoiding significant overhead costs in misclassifying hundreds of employees.
Experian to offer VantageScore 4.0 for free
If Experian eventually charges for VantageScore 4.0, it will be offered for at least a 50% discount compared to what Fair Isaac Corp. charges for its FICO score.
Wells Fargo’s earnings aided by consumers, capital markets
The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.
Citi’s makeover shows results, with more upside ahead: CEO
The megabank’s multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.
Mortgage risks tied to federal furloughs flagged by KBRA
Fannie Mae and Freddie Mac’s credit risk-transfers and some older private-label mortgage-backed securities have exposures to the Washington DC area.
How late fintech pioneer Doug Lebda built LendingTree
Lebda, who died over the weekend in an ATV accident, built one of the first online financial marketplaces in 1998.