Finance

Slower-than-expected lending and "lackluster" trading could be concerns; new CEO David Solomon sets his sights on fixed income.

Big banks are expected to report that commercial lending weakened in the third quarter thanks to tax cuts, nonbank competition and seasonal factors. It raises questions about whether the second-quarter rally was an anomaly and if an overall economic slowdown is edging closer.

Bank Novo isn't a business lender (lots of firms already do that) or an account provider (it has a bank partner for that). Instead, it provides small businesses tools to track and analyze their banking activities.

HSBC will pay $765 million to settle allegations that it sold defective residential mortgage-backed securities in the run-up to the financial crisis, resolving one of the London-based bank's last significant legal challenges with the U.S. government.

Analysts are split on whether cyber threats have evolved enough for lawmakers to finally grant the National Credit Union Administration third-party vendor oversight.

On Jun. 30, 2018. Dollars in thousands.

Several other recent hires may have been an attempt to refute charges it can’t attract top talent; rising rates have helped banks, but a reckoning awaits.

Union Bankshares will gain 15 branches and $2 billion in loans in northern Virginia after it buys Access National.

Wells Fargo is planning its first post-crisis offering of bonds tied to U.S. home loans without government backing, according to people familiar with the matter.

The trade group says credit unions will have access to a variety of state and federal resources.

Profits at big banks should be solid if not spectacular; the Vermont senator proposes a hard cap on assets held by the biggest banks.

An emerging VC model seeks to get in on new ideas early, before Series A or initial coin offering, offering coaching, money and other accelerants as close to the point of invention as possible.

Shamir Karkal said his startup will allow fintechs to develop ACH processing for their companies without having to partner with banks.

A two-year-old lawsuit by the CFPB may be languishing, but nine members of the Teachers Federation of America sued the student loan servicing giant alleging that it misled borrowers in public service professions in order to line its pockets.

It should come as no surprise that Meera Clark would gravitate to ventures like Morgan Stanley's Multicultural Innovation Lab, which pairs venture capital with founders from diverse backgrounds. After all, her mother, Ranjana Clark, is a disruptive trailblazer of her own at MUFG.

The economy could “positively slow down in mid-2019” and consumer debt levels are a huge concern, but technology and lessons learned from the crisis could still create opportunity for small banks, says Beneficial’s Gerry Cuddy ahead of a big speech on current conditions.

National Credit Union Administration Chairman Mark McWatters called on lawmakers to further expand field-of-membership options for CUs and to permit the regulator to oversee third-party vendors, including fintech partners.

The firm hopes to distinguish itself from other lenders by analyzing customer cash flow to determine the likelihood that borrowers will repay.

The company will record a quarterly charge after reporting potential fraud tied to commercial deposit accounts.

First Foundation sold loans to Freddie Mac to free up space for higher-yielding credits. It then bought the securities that were formed to replace other, lower-yielding assets through an often overlooked program.