The Latest

BofA is the first large Wall Street bank to officially reverse its call amid growing optimism about the economic outlook.

Despite healthy second-quarter revenue growth, PayPal's stock fell Thursday amid higher-than-expected losses from merchant loans.

Despite big talk months ago, experts don't see a lot of political appetite to change bank oversight rules — or the deposit insurance system — in the wake of three large regional bank failures that happened earlier this year.

Critics of the Federal Home Loan banks fundamentally misunderstand the purpose and necessity of the system.

Federal Reserve Bank of Richmond President Thomas Barkin said the greater-than-expected easing in inflation in June may be an indication that the U.S. economy can have a "soft landing," returning to price stability without a damaging recession.

Jeffrey R. Schmid will assume Esther George's former role on August 21.

While financial markets wobbled after Fitch Ratings reduced the U.S. government's credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poor's in 2011. JPMorgan Chase CEO Jamie Dimon argued that Fitch's action "doesn't really matter that much."

The Seattle bank, which has lost about two-thirds of its market value this year, is also said to be considering raising capital and selling assets.

A Figure spokesperson said the decision to withdraw the banking charter application was to enable the company to focus on other areas of growth.

This is the third time the Wells Fargo has tapped the bond market in recent weeks. The bank previously raised $8.5 billion and $1.7 billion of bonds after the lender's second-quarter earnings beat estimates.