Polo Rocha is a Washington D.C.-based reporter who covers consumer finance and national banking trends. He previously covered the Federal Reserve at S&P Global Market Intelligence and state politics at WisPolitics.com. He graduated from the University of Wisconsin-Madison and has a master's in finance degree from Johns Hopkins University.
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Larger banks are responsible for a special assessment to cover the costs of the failures of Silicon Valley Bank and Signature Bank. The price tag has ballooned by $4.1 billion, and trade groups are criticizing the FDIC's process, arguing that it lacks transparency.
March 13 -
Midsize lenders have largely defied the most dire predictions following Silicon Valley Bank's demise. But the nation's largest banks still have structural advantages, and the regionals remain hampered by their real-estate heavy portfolios and the continuing impact of high interest rates.
March 11 -
The Long Island bank plans to balance its loan mix and fix its risk controls. But following a large capital injection led by two former Trump administration officials, the new leadership is asking for more time to formulate its strategy.
March 7 -
Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.
March 6 -
The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.
March 5 -
New York Community Bancorp faced new questions Friday after a flurry of disclosures led to a steep sell-off in its stock. The embattled Long Island-based lender beefed up its risk leadership, but Fitch cut its rating to "junk" status.
March 1 -
Royal Bank of Canada is optimistic that new U.S. leadership, including former Fifth Third CEO Greg Carmichael, can rejuvenate its struggling City National Bank.
February 28 -
CEO Charlie Scharf has added another former JPMorgan Chase colleague to his leadership team as his shake-up of Wells Fargo continues. The hire of veteran investment banker Doug Braunstein comes as Scharf makes progress on his efforts to grow Wells' investment bank.
February 27 -
The Salt Lake City company has promoted Paul Burdiss, its chief financial officer, to succeed A. Scott Anderson as president and CEO of its banking unit. It also named a new CFO and a new general counsel.
February 26 -
The two companies in the largest bank merger since the 2008 financial crisis released details of their agreement. It leaves the door open for Discover to field better offers, though the payments company would pay a break-up fee of 4% if it accepts one.
February 22
