Finance

In her first public appearance since President Trump moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid."

The buy now/pay later firm, which reports earnings Thursday, has inked deals with Worldpay to expand potential borrowers and with New York Life to obtain more capital for future lending.

The Tacoma, Washington-based bank, which has completed two mergers since 2023, said Thursday that it will buy back up to $700 million of its own shares over the next year.

The head of the government-sponsored enterprise's oversight agency said the cuts were made to positions that weren't central to mortgages and new home sales.

The Billings, Montana-based bank finds itself in the crosshairs of a high-profile activist investor. On Thursday, it stuck to its organic growth plan and said it isn't interested in using its excess capital to restructure its securities book.

Top SBA lenders are warning about the impact of a prolonged shutdown. NewtekOne skipped providing fourth-quarter guidance after its CEO said the situation was too cloudy to forecast.

During Thursday's earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.

The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.

American Banker's 2025 Small Business Banking conference yielded lessons about the need for speed, simplicity and safety in small-business lending. Other key takeaways included the significance of digital payment options and the importance of continuing to process SBA loan requests during the government shutdown.

Nine months after acquiring Heartland Financial, Missouri's largest bank posted a complicated quarter.

The Federal Reserve's interest rate-setting body is expected to announce a 25 basis point cut and provide guidance on the trajectory of its balance sheet Wednesday afternoon.

The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.

The Federal Open Market Committee is expected to announce guidance on the end of its quantitative tightening program later Wednesday. As that process draws to a close, experts are questioning when and how the central bank should use its balance sheet to smooth economic stress in the future.

The payments giant had a "better than expected" fiscal fourth quarter, and said it expected that momentum to carry through the holidays. It's also looking forward to tailwinds brought by the Olympics and the FIFA World Cup in 2026.

The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.

The payment company launched new tools for merchants and entered artificial intelligence collaborations with OpenAI and Mastercard ahead of the company's second quarter earnings, which beat analyst expectations.

The New York-based bank, which works with many Democratic campaigns, faces investor concerns that it might be targeted by the Trump administration. CEO Priscilla Sims Brown says the bank's "strong profitability" is its best shield from political threats.

The Arkansas-based company spent nearly four years on the M&A sidelines, grappling with asset quality issues and litigation tied to its 2022 acquisition of Texas-based Happy State Bank. Now it's signed a letter of intent to buy an unnamed bank.

Boston-based Eastern Bankshares is focused on organic growth, but it would "evaluate the opportunity" for M&A if a deal presents itself, its CEO said Friday. The comments came four days after an activist investor criticized the bank's recent M&A transactions.

The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.