Daily Edition

Citing Silicon Valley Bank as an example of being ill prepared, Federal Reserve Vice Chair for Supervision Michael Barr says the central bank can only serve as lender of last resort if banks are "ready and able" to borrow.

The Fed announced Monday that it would join Instagram and Threads, bolstering its social-media presence to seven platforms.

Anthony Viggiano and three classmates once won a competition about which team could best tackle dilemmas they'd face as financial professionals. He's now accused by federal prosecutors of being at the center of an insider trading scheme. 

The Royal Bank of Canada has made a series of transactions that should boost the profitability of its struggling U.S. subsidiary. Debt securities that had been owned by City National have lost value as a result of rising long-term bond yields.

With multiple economic factors driving up the costs of owning a vehicle, the $1.9 billion-asset institution in New Hampshire is partnering with Credit Union Leasing of America to make car ownership more affordable for members.

The financial institution released details of an FDIC consent order, weeks after the unexpected departure of longtime CEO Roger Hochschild. The bank must submit several action plans to address consumer protections within three months.

The $23 million deal, signed in 2021 and initially projected to close in the second quarter of 2022, was delayed multiple times amid leadership turnover at the Los Angeles-based RBB.

The Federal Reserve governor said existing reports, including one published by the Fed's inspector general last week, were too limited in scope.

German financial watchdog BaFin has appointed an independent monitor to oversee Deutsche Bank's progress in resolving issues at its consumer unit. It's the second time BaFin has taken the unusual step since Christian Sewing became CEO in 2018.

Making the Consumer Financial Protection Bureau's funding subject to congressional appropriations would bring some much-needed accountability to a runaway regulator.

The U.S. Commodity Futures Trading Commission  ordered Goldman to pay a $30 million penalty for failing to "diligently" supervise its swap dealer activities and for failures relating to swap date reporting and so-called pre-trade mid-market marks. 

Laurentian Bank of Canada said Chief Executive Officer Rania Llewellyn will leave immediately, to be replaced by personal and commercial banking chief Eric Provost. The bank's chairman resigned.

The high court will hear oral arguments on Oct. 3 on whether the Consumer Financial Protection Bureau's funding violates the Appropriations clause. A key issue is whether parameters can be placed around Congress' authority over the federal purse strings.

The bank has already axed 5,000 jobs this year, costing $400 million in severance in the second quarter alone. This next phase will be more about eliminating the executive roles that sit two or three layers below the CEO.

The Golden State appears poised to preempt the Securities and Exchange Commission by enacting rules that would require larger firms to make detailed disclosures about their greenhouse gas emissions. Banking groups are concerned that the state regime won't align with federal rules.