The Latest

Former Goldman Sachs Group banker Brijesh Goel was released on $500,000 bail after being charged with insider trading.

First introduced in 2020, the Fair Access to Financial Services Act would require banks to serve all customers in a manner similar to existing requirements for hotels and restaurants under the Civil Rights Act of 1964.

The deal comes on top of the company’s previously announced agreement to acquire another Wisconsin bank, Denmark Bancshares.

Somerset Savings Bank will convert to a stock-owned bank before merging with Regal Bancorp, the holding company for the $545 million-asset Regal Bank, also in New Jersey.

Credit Suisse Group plans to announce the departure of Chief Executive Thomas Gottstein, The Wall Street Journal reported, part of efforts to turn around the struggling company. 

President Biden is considering extending a pause on student loan repayments for several more months, as well as forgiving $10,000 in student loan debt per borrower, according to people familiar with the matter, as he seeks to appeal to young voters ahead of the November midterms.

More central bank communication leads to more trust and more accurate inflation expectations among the public, a study from the National Bureau of Economic Research concludes. But while other central banks have found creative ways to get their message across, the Federal Reserve has not.

UBS signaled that it’s part of a broad probe by U.S. regulators into messaging by bank employees that’s likely to saddle lenders with fines of about $1 billion.

Financial institutions such as Encore Bank, Central Pacific Bank, Climate First Bank and Lead Bank are in various stages of exploring or accelerating relationships with fintechs, even as market conditions make the Baas business model less attractive.

Credit Suisse Group, the Swiss bank that lost dozens of key dealmakers last year, is once again offering lucrative retention payments to prevent senior talent from leaving.