Finance

When the prices of U.S. goods and services soar, the Federal Reserve tends to raise its benchmark interest rate, and commercial banks are pinched in several fundamental parts of their business.

The bank attributed the surge to impairments in the U.S. office loan portfolio and appeared to signal that higher provisions from commercial real estate may persist.

UBS Group outlined major targets for its integration of former rival Credit Suisse, including 3,000 domestic job cuts and more than $10 billion in cost savings, as it posted the biggest ever quarterly profit for a bank on the back of the bargain acquisition in June.

The Canadian bank initially told investors the acquisition would result in more than $350 million in cost savings. But a recent analysis suggests that number could be even higher.

The regional bank's stock price is down 38% this year, and it recently got downgraded by S&P Global. While there's light at the end of the tunnel — as Key looks to rebound from the negative impact of soaring interest rates — analysts question whether the improvement will take too long to materialize.

Some banks are gravitating toward API connectivity to build an "ecosystem of applications." Others like a one-stop-shop or ready access to executives.

The need to create a pipeline of female leaders in the male-dominated fintech space is urgent and deserves the industry's attention.

Half of the transactions on the buy now/pay later lender's new plastic card become interest-bearing loans.

After terminating a $13.4 billion acquisition of First Horizon in May, TD Bank disclosed a federal investigation of its anti-money laundering controls during the bank's third-quarter earnings.

The company's U.S. banking unit, which focuses on wealth management, reported a $38 million quarterly loss. Executives said they're cutting staff in an effort to right the ship, but analysts questioned whether the expense cuts are aggressive enough.