Legal Developments: First Quarter, 2017
Nine orders were issued this quarter, one for First Citizens BancShares, Inc, Central Bancompany, Inc., Anchor Bancshares, Inc., F.N.B. Corporation, People’s United Financial, Inc., and Cathay General Bancorp under section 3 of the Bank Holding Company Act; one for Farmers Bank & Capital Trust Company under the Bank Merger Act; and one for Farmers Bank & Capital Trust Company and PlainsCapital Bank under the Federal Reserve Act.
Legal Developments: Second Quarter, 2017
Nine orders were issued this quarter, one for United Bankshares, Inc., Community Bank System, Inc., Simmons First National Corporation, Sunflower Reincorporation Sub, Inc., and Canadian Imperial Bank of Commerce under section 3 of the Bank Holding Company Act; one for United Bankshares, Inc. under the Federal Reserve Act; one for Nordea Bank AB under the International Banking Act; and one for TIAA Board of Overseers, Teachers Insurance and Annuity Association of America, and TCT Holdings, Inc. under the Home Owners’ Loan Act.
Legal Developments: Third Quarter, 2017
Seven orders were issued this quarter, one for Veritex Holdings, Inc. under section 3 of the Bank Holding Company Act, the Bank Merger Act, and the Federal Reserve Act; one for PacWest Bancorp under section 3 of the Bank Holding Company Act; one for Sterling Bancorp and Toronto-Dominion under section 4 of the Bank Holding Company Act; one for Synovus Bank under the Bank Merger Act; one for Regions Bank under the Federal Reserve Act; and one for The Bank of East Asia under the International Banking Act.
Changes in U.S. Family Finances from 2013 to 2016
Evidence from the Survey of Consumer Finances The Federal Reserve Board's Survey of Consumer Finances for 2016 provides insights into the evolution of family income and net worth since the previous time the survey was conducted, in 2013. The survey shows that, over the 2013-16 period, the median value of real (inflation-adjusted) family income before taxes rose 10 percent, and mean income increased 14 percent. Real median net worth increased 16 percent, and mean net worth increased 26 percent. The data also indicate that gains in income and net worth are broad based, occurring across many different types of families, whether grouped by economic characteristics such as income and wealth or by demographic characteristics such as age, education, or race and ethnicity. However, the data also indicate that inequality continued to grow between 2013 and 2016, with large gains in income and net worth accruing to the highest-earning and wealthiest families. This article reviews these and other changes in the financial condition of U.S. families, including developments in assets, liabilities, debt payments, and credit market experiences.
Residential Mortgage Lending in 2016: Evidence from the Home Mortgage Disclosure Act Data Neil Bhutta, Steven Laufer, and Daniel R. Ringo
This article provides an overview of the 2016 data reported under the Home Mortgage Disclosure Act of 1975 and analyzes mortgage market activity over time as well as lending patterns across different demographic groups and lender types. The number of home-purchase originations was about 10 percent higher in 2016 than in 2015, and the number of refinance loans was 16 percent higher. The increase in lending was broad based across demographic and income categories.
HMDA Bulletin Data (.xlsx)* | HMDA data by county and month, 1994-2016 (.csv)
*This file was updated on September 29, 2017, to correct a labeling error.
Legal Developments, Fourth Quarter, 2017
Twelve orders were issued this quarter, one for Columbia Banking System, Inc., Reliable Community Bancshares, Inc., First Horizon National Corporation, Southside Bancshares, Inc., South State Corporation, CenterState Bank Corporation, and NATCOM Bancshares, Inc. under section 3 of the Bank Holding Company Act; one for National Bank Holdings Corporation under section 3 of the Bank Holding Company Act, the Bank Merger Act, and the Federal Reserve Act; one for Commercial Bancgroup, Inc., Robertson Holding Company, L.P., and Unified Shares, LLC under section 3 of the Bank Holding Company Act, the Bank Merger Act, and the Federal Reserve Act, one for Sandy Spring Bancorp, Inc. under sections 3 and 4 of the Bank Holding Company Act and the Bank Merger Act; one for Frost Bank under the Federal Reserve Act; and one for ING Bank N.V. under the International Banking Act.