Finance

The Canadian lender's cushion for potential credit losses nearly doubled in the third quarter, while its U.S. business idled.

The Bank of Nova Scotia increased its provisions for potential credit losses in the third quarter and said its KeyCorp stake would provide a hefty return on investment.

Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.

The stock prices of banks that have large exposure to commercial real estate loans surged after comments from Federal Reserve Chair Jerome Powell. His remarks could be a sign that relief is coming on both sides of those banks' balance sheets.

Between Warren Buffett offloading roughly $4 billion in bank stocks and credit card losses shrinking across the banking industry, here are the top market moves to be wary of.

The Canadian bank reported that regulatory fines related to compliance woes wiped out a chunk of its earnings in the third quarter.

The Toronto-based bank also expects a "global resolution" of investigations by U.S. authorities to be finalized by the end of the year.

New standards forwarded by the Public Company Accounting Oversight Board and approved by the Securities and Exchange Commission bolster auditor responsibilities and introduce enhanced technology use, impacting over 350 publicly traded banks.

Toronto-Dominion Bank's expensive foray into the U.S. was supposed to supercharge its growth. Instead, it's become a drag on profitability and badly dented the lender's reputation.

The North Carolina-based bank doubled in size in 2022 and again last year, when it acquired the failed Silicon Valley Bank. It has used consistency to outperform peers.

The banking giant's sale of the non-agency, third-party portion of its commercial servicing business will boost the buyer's position in the securitized market.

Specialized Portfolio Servicing's sale resolves questions about it that arose when UBS bought the troubled Credit Suisse last year.

Thanh Roettele will help guide the Canadian bank's growth in the mortgage warehouse space in one of its latest moves aimed at the U.S. market.

The beleaguered Long Island bank saw its stock price rally after investors exchanged their preferred shares for common stock.

Automatic updates and data encryption have their advantages. As many CrowdStrike customers learned on July 19, they also have disadvantages.

Fortuna Bank in Columbus would be the third U.S. bank specifically formed to be women-owned, according to its organizers. Supporters say it's another win toward obtaining gender-equitable capital access.

On the heels of a recent downgrade by one analyst, the Uniondale, New York-based Flushing is being challenged by veteran investor Larry Seidman to consider a sale of the company.

The consumer lender has signed a nonbinding letter of intent to sell its credit card portfolio, which will simplify its business to personal loans and automated savings.

Banks are testing the waters on paying depositors lower interest rates, and analysts expect they're due for a bigger breather when the Fed takes action. It's a welcome shift for banks, after competition for deposits forced them to pay up.

The prepaid card firm and banking-as-a-service provider extended its contract with its largest BaaS client in Q2 despite a July consent order from the Federal Reserve.