The Latest

Credit unions' provision for loan and lease losses rose by 337% in 2022. Industry observers cite forecasted economic weakness and current expected credit loss implementation as the primary reasons.

Canada's financial institutions' regulator moved to reassure investors as the country's riskiest bank debt joined a global selloff after the value of some Credit Suisse bonds was wiped out in the bank's takeover by UBS Group.

The Raleigh, North Carolina, lender submitted an offer on Sunday to buy all of the failed SVB, and it may also participate in the auctions this week for the two parts of company, people familiar with the matter say.

On Monday, the top banking Republicans in both chambers laid blame for Silicon Valley Bank and Signature Bank's failures on the Federal Deposit Insurance Corp. and Federal Reserve, and they asked the agencies for a full autopsy of what went wrong.

A federal judge allowed a Jeffrey Epstein victim to proceed with a claim that the banks knowingly benefited from Epstein's sex trafficking by providing him with financial services. But the judge dismissed the top counts in two suits.

The shutdowns of Silvergate Capital and Signature Bank are likely to send crypto-related businesses and digital asset innovation offshore.

On top of recession fears and elevated regulatory scrutiny, worry about the banking industry's weakness could delay the approval of mergers such as Toronto-Dominion Bank's pending acquisition of First Horizon.

Properly executed, the new anti-money-laundering program has the potential to cripple laundering networks by altering the landscape for financial services professionals.

According to industry experts, the deal failed because SVB publicly introduced risk to depositors and investors by announcing a need for capital. 

The Federal Deposit Insurance Corp. says it has extended the deadline for bids on Silicon Valley Bank, will break the bank into two parts for sale and will allow nonbanks to bid on asset portfolios.