Finance

The Minneapolis company recently advised a nonprofit on a $30 million issuance that will provide financing to developers building multifamily housing and community facilities. It includes a framework, which the bank intends to deploy again, for informing investors on how the money is being used.

A strong showing by the North Carolina bank’s insurance arm helped to overcome lower interest rates and sluggish lending in the second quarter.

The Minneapolis company benefited as business for airlines and hotels picked up sooner than expected. The rebound helped fee income in the bank’s payments business approach prepandemic levels.

Revolut raised $800 million from investors including SoftBank Group’s Vision Fund 2 and Tiger Global Management at a $33 billion valuation, the latest sign of investor demand for fintechs.

N26 GmbH is holding discussions with investors to raise several hundred million dollars in a fundraising that could value the German fintech at about $10 billion, according to people familiar with the matter.

Native American reservations have some of the country's highest concentrations of unbanked households. But tribes are finding ways to get their members access to capital — with or without banks.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

The global company says that a quicker-than-expected economic recovery is creating some opportunities to invest in businesses that will generate returns over time.

Bank of America expects interest income to rise as stronger borrowing outweighs the impact of low rates. The upbeat forecast is in contrast with remarks from JPMorgan Chase executives.

PNC’s recent acquisition of BBVA's U.S. operations won quick approval from regulators, but a recent presidential directive promises more scrutiny of such deals, according to CEO Bill Demchak.