May 15, 2024
NYCB Sells $5 Billion in Loans to JPMorgan

New York Community Bank (NYCB) is selling $5 billion in loans to J.P. Morgan Chase. The sale of these “mortgage warehouse loans” is designed to strengthen the regional bank’s capital and liquidity,...

May 14, 2024
Ahead of Hill Hearing, Regulators Say Banks ‘Resilient’ but Risks...

Testimony from some of the top regulators in the country ahead of a Wednesday (May 15) Capitol Hill hearing on bank oversight took note of the resilience of the banking...

May 13, 2024
OpenAI Delivers Subscription Model Upgrade for GPT-4o

OpenAI, the artificial intelligence (AI) company behind the widely popular ChatGPT, announced Monday (May 13) the launch of GPT-4o — with “o” meaning “omni” — a new language model free for all users....

May 08, 2024
Fed Governor Lisa Cook Highlights Private Credit as Emerging Issue

Federal Reserve Governor Lisa Cook highlighted commercial real estate, private credit and cyber risks as potential issues. Speaking Wednesday (May 8) at the Brookings Institution in Washington, D.C., Cook provided a current assessment of financial...

May 08, 2024
Trimble Acquires Flashtract to Expand Connected Construction Technology Ecosystem

Trimble has acquired Flashtract to add construction payment, compliance and lien waiver capabilities to its connected construction technology ecosystem. Flashtract’s technology streamlines the flow of payment and compliance information between construction general contractors and subcontractors,...

May 07, 2024
Redfin Settles $9.2M Commission Inflation Lawsuits

Technology-powered brokerage Redfin has agreed to a $9.2 million settlement to resolve two nationwide class-action lawsuits. The suits alleged that Redfin conspired to artificially inflate commissions paid by home sellers...

May 06, 2024
Simon Property Group Sees ‘Big Comeback’ in Malls

Simon Property Group has seen a “big comeback” in malls, driven in part by domestic tourism. The company, which is a real estate investment trust that owns shopping, dining, entertainment and mixed-use...

May 06, 2024
Rocket Companies Hires Shawn Malhotra to Drive ‘AI-Fueled Homeownership’

Rocket Companies has hired Thomson Reuters veteran Shawn Malhotra as its first chief technology officer (CTO). In this newly created role, Malhotra will oversee the development and implementation of artificial intelligence (AI), data science, product...

May 06, 2024
Fed Survey Reveals Tighter Standards and Weaker Demand for Loans

Banks are seeing a slide in demand for loans — at the same time that they’re tightening lending standards. And the pressures, as noted in the most recent Federal Reserve...