Finance

Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.

Kearny Financial is partially restructuring its balance sheet in response to a problem that many banks are facing. The bank's actions should result in a sizeable income boost once they're fully phased in, an analyst said.

Canada's banking regulator said the country's mortgage stress test has helped prevent widespread defaults as interest rates rose this year, rebuffing calls to weaken or eliminate the measure amid a surge in homebuying costs.

The challenger bank for Black and Latino individuals introduced Elevate, a membership-only tier that includes access to private clubhouses and networking aimed at people of color.

Executives at the Minneapolis company said Wednesday that they expect earnings-per-share accretion to be higher than they previously anticipated. But their estimate for merger-related expenses also rose.

The Dallas-based company is expanding in the Southeast and the Mountain West, and overhauling its digital systems, as part of a plan that executives say will pay off over a two- to five-year period.

Banks are starting to have a tougher time obtaining funds in the financial system as the Federal Reserve shrinks its balance sheet and hikes interest rates, leaving analysts searching for any signs that the strains are approaching the magnitude of past credit crunches.

Seattle Bank built CD Valet to be an unbiased resource for top certificate of deposit rates that cannot be influenced by advertising dollars.

Rule 15c2-11's public disclosure requirements could inhibit Rule 144A issuers unless addressed.

The Federal Reserve's campaign to tighten financial conditions has resulted in notably increased borrowing by U.S. banks at the central bank's discount window, normally a last-resort funding source.

Wells Fargo cut hundreds more mortgage employees Thursday, the latest in a series of reductions across the industry after higher interest rates brought the pandemic-era home-lending boom to halt.

The Federal Deposit Insurance Corp. acting Chairman Martin Gruenberg suggested that could decrease in future quarters as market pressures push up the interest that banks need to pay for consumer deposits.

Canadian Imperial Bank of Commerce posted earnings that missed analysts' estimates as the lender failed to benefit from rising interest rates.

Toronto-Dominion Bank is making the most of rising interest rates, with widening lending margins lifting results.

Bank of Montreal took a hit in the fiscal fourth quarter as a chill in capital markets weighed on investment banking revenue.

Royal Bank of Canada posted earnings highlighting its strength at home a day after striking the company's largest deal ever to bolster the business.

The increased limit on the size of the mortgages the government-sponsored enterprises will be able to buy reflects the year-over-year change in home prices.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

Canada's banks are expected to post their second straight quarter of declining earnings as the darkening economic outlook slows loan growth and prompts them to stockpile capital, outweighing the benefit of wider lending margins.

Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases, signaling the central bank was leaning toward downshifting to a 50-basis-point hike in December.