Digital Insight Corp. said last week that poor market conditions have caused it to cancel a proposed public stock offering aimed at raising as much as $100 million in new capital. The company had registered with the Securities and Exchange Commission to sell four million shares with the proceeds to be used for general corporate purposes, to pay down debt, and to finance potential acquisitions.
Waiting for the SBA to sign off on PPP loan forgiveness; banks criticized for requiring balloon payments on loans in forbearance; how backlash over Scharf remarks affects Wells Fargo’s diversity push; and more from this week’s most-read stories.
Banks' restaurant and hotel clients in many oceanside communities are seeing an uptick in business as travelers opt for short hops over long hauls during the coronavirus crisis. But activity could slow as colder weather approaches.
The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”