Electronic Payment Exchange

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Consumer lending

Bank of America hurt by rising losses in credit cards, office loans

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

By Catherine Leffert

1h ago
Federal Reserve

Fed's Powell touts benefits of international coordination

The Federal Reserve chair's comments coincide with the spring meeting of the International Monetary Fund and the World Bank Group in Washington. They also come as groups like the Basel Committee on Banking Supervision are being scrutinized.

By Kyle Campbell

2h ago
Banking Crisis: One Year Later

New details on rush of Home Loan bank borrowings at three failed banks

The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the GAO says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.

By Kate Berry

2h ago