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Federal Reserve Chairman Jerome Powell suggested that a rate cut is coming, but cast doubt about whether the central bank would see enough data suggesting inflation is sufficiently tamed for interest rates to come down at their next meeting.

Challenger banks, like traditional banks, are under pressure to operate with fewer expenses. Artificial intelligence is part of the answer, and the impact on the workforce may be profound.

Nasdaq is planning to cut hundreds of jobs as it integrates software provider Adenza into its business — an acquisition it closed last year amid efforts to propel a new phase of expansion at the firm.

An increase in deposits in recent months is prompting banks to seek out high-quality fixed-income assets to deploy money, market watchers say. The return of Wall Street buyers has pushed spreads well below year-end levels, jump-starting CLO creation and ginning up demand for loans.

The Seattle-based buyer now expects to finalize the deal in February, gaining entrance to California and eclipsing $30 billion of assets. The acquisition had initially been slated to close in mid-2023.

The central bank massively increased the money supply during the pandemic. We paid the price with high interest rates throttling the real estate industry.

In this month's roundup of top banking news: Truist Financial announces plans to shutter 4% of its branch network, Fiserv pursues a special-purpose bank charter, Wells Fargo distributes a $1,000 bonus to lower-paid employees and more.

The parent company of Flagstar Bank surprised investors by slashing its dividend, charging off two large real-estate loans and preparing for more trouble in the office and multifamily sectors.

In this month's roundup of popular tech news: SEC responds to successful hack on its X account, community banks get closer to fintech hubs, the Office of the Comptroller of the Currency weighs in on Blue Ridge Bancshares and more.

U.S. consumers remain healthy despite several factors that weigh on their spending, said CEO Michael Miebach.