Finance

Bank of Nova Scotia missed earnings estimates for its fiscal second quarter after setting aside more money than expected for bad credit as tariffs hit its Canadian and Mexican operations.

A recent deal involving a troubled Texas bank shows that even the most lopsided depository can find an exit.

Upgrading its anti-money-laundering controls is the Canadian bank's top priority following historic failures that led to a $3.1 billion penalty and a U.S. asset cap.

Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels.

Toronto-Dominion Bank set aside less money than expected for souring loans in the second quarter, despite concerns that U.S. tariffs would hamper economic growth.

The president said he would consult with the heads of Treasury, the Commerce Department and the Federal Housing Finance Agency he comes to a decision.

Samantha Funk will step up as new head of public finance at PNC after Rob Dailey retires at the end of July.

The Pittsburgh bank is absorbing broker-dealer Aqueduct Capital Group into its investment banking unit, Harris Williams.

The Federal Housing Finance Agency chief also explained an alternate name he's used for the agency in his first speech at a Mortgage Bankers Association event.

Troy Rohrbaugh, co-CEO at JPMorgan's commercial and investment bank, says volatility set off by President Donald Trump's policy announcements continues to chill deals.

"I worry a lot about the inflation side, and mainly because we're seeing expectations move in a troublesome way," Federal Reserve Bank of Atlanta President Raphael Bostic said.

Investors face yet another bumpy start to the trading week, although it's mounting concern over US debt rather than tariffs likely generating the volatility this time.

The Pennsylvania company spent the last five years adding lines of business, cleaning up its balance sheet and leveling up its technology. This year, Customers needs to churn out consistent earnings to prove that the investments were worth the costs.

The fintech's first-quarter earnings results beat analysts' expectations on nearly every metric. Now, the second-look lender is looking to partner with regional banks as it builds out its pre-screen and lead generation platforms.

The fintech's CEO told analysts during Thursday's earnings call that generative AI was taking search by storm and that investors "should absolutely expect us to have an answer for that."

The neobank reported a 47% increase in revenue in the first three months of the year.

Investors seemed to agree with CEO Barry Sloane's argument that strong earnings will outweigh a jump in nonaccrual loans.

The pending acquisition is one of several large deals involving payment companies in recent years as legacy firms look for combinations that can counter newer fintech rivals.

A representative for the bank said JPMorganChase is still dedicated to venture capital investors and new businesses.

A service outage on Friday at Fiserv affected multiple banks and crippled at least 60 applications for some Fiserv customers, including Early Warning's peer-to-peer money transfer app Zelle. The issue, while resolved, reiterates the importance of bank redundancies.