Banks’ near-term outlook in three words: ‘Solid, not stellar’
Loan growth is tepid, optimism has waned for regulatory and tax reform, and questions abound on consumer credit, bank CEOs are warning as midyear approaches. American Banker: Feed
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Ivanhoe Cambridge, CCP Acquire 85 Broad Street in Manhattan
Ivanhoé Cambridge, Inc. and its investment partner, Callahan Capital Properties (CCP), have acquired the office building at 85 Broad St. in New York City for approximately $ 650 million, or about $ 580 per square foot, from a joint-venture between MetLife Real Estate and Beacon Capital Partners. MetLife previously owned the tower before bringing on
Conditions chilly at home, Canadian banks seek U.S. expansion
Canada’s big banks are pursuing wholesale banking, capital markets and select M&A opportunities across the border to hedge against a slowing mortgage market and other economic concerns on the home front. American Banker: Feed
Fayette County Bank becomes year’s sixth failure
The bank is the second failure in Illinois so far in 2017. Seaway Bank was closed in late January. American Banker: Feed
75% of CEOs risk organization’s security by using unapproved apps/programs
Despite the potential damage to a business and its reputation, not to mention security risks, business decisions makers are using programs and applications that are not approved by their I.T. department, according to a new study from data protection firm, Code42. BizReport
The slow remaking of the taxi-medallion loan market
Amid all the bad news this year among taxi-medallion lenders, banks are trying to renegotiate loan terms behind the scenes, and regulatory changes could prop up collateral values and the competitiveness of taxis. American Banker: Feed
Hines to Develop Office, Mixed-Use Tower at Miami Worldcenter
International real estate firm Hines plans to develop a new office-led, mixed-use tower at 110 10th St. in the heart of downtown Miami, FL. Hines expects to commence construction in the second quarter of 2018, with an anticipated initial occupancy date in the late 2020 or early 2021. Set to rise within the 27-acre Miami
60% of Millennials will pay more for a brand that has positive impact on society
Social consciousness is leading to four in ten consumers abandoning brands that they do not feel make a positive impact on society, according to new research from Mediacom. BizReport
‘A needle in a stack of needles’: Using AI to detect money laundering
David McLaughlin, founder and CEO of QuantaVerse, discusses how artificial intelligence can improve anti-money-laundering compliance; the problems of de-risking and “defensive filing” of suspicious activity reports; the Clearing House’s proposal to reduce banks’ AML costs; and more. American Banker: Feed
Large CMBS loans are being carved up to spread risk, but …
The trend of putting ever-smaller pieces of the same commercial mortgages into multiple securitizations requires investors to be extra careful, and will inevitably make workouts of bad loans more complicated. American Banker: Feed