Finance

California's bid to regulate EWA programs as though they are loans would harm workers, companies and the state's economy.

With LIBOR's long-awaited sunset, the future of interest rate benchmarking must be defined by choice.

The legislation has support among Republicans, who hold a slim majority in the chamber.

Aite-Novarica, RBR rebrand as 'Datos Insights'; Singapore fines DBS, Citi for breaches in Wirecard scandal; the top-ranked employers for working fathers on Wall Street and more in this week's banking news roundup.

In an online commentary published Wednesday, the Atlanta Fed president said he agreed with the view that "the bar to justify further rate hikes is higher than it was a few months ago."

Bank of America had a 55% increase in new clients in May, and the lender is planning to bulk up staffing to keep up with demand. 

Data from recent bank failures suggests that prevailing assumptions about which deposits are the most volatile could be dangerously flawed.

California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That's wrong and short-sighted.

Both regional banks announced weaker guidance for net interest income than they had foreseen two months ago. The disclosures highlighted pressures that figure to take up a lot of the oxygen during second-quarter earnings season.

New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.

Bond traders have overestimated month-over-month headline inflation heading into four of the last seven Consumer Price Index releases, says strategist Raghav Datla.

The top 200 publicly traded banks with less than $2 billion of assets capitalized on their strong loan portfolios and interest income. But given a shift in the economic environment and banking industry, performance challenges are expected to intensify through 2023.

Molloy will be leaving the banking giant for the nonprofit sector. Dan Tomson and Paul Creedon, co-heads of public finance, will be taking over his responsibilities.

Fintech VC funding flooded into consumer-focused companies in 2021. Now, the tides are changing direction.

When the once-ubiquitous interest rate goes away at the end of June, some businesses that have older loans may see a sudden jump in their payments. Banks, lawyers and business leaders are doing last-minute work to avoid that scenario.

Potential uses for banks include risk analysis, investment portfolio construction and financial crime monitoring.

Led by Chairman Marshall Reynolds, the entire board of directors participated in a private placement that raised $10 million for the Hammond, Louisiana, company.

As he updated RBC shareholders on a disappointing quarter, CEO Dave McKay cited the U.S. banking crisis and gridlock over the debt ceiling.

Bank of Montreal and Bank of Nova Scotia increased provisions for loan losses in their fiscal second quarters amid a macroeconomic outlook that's continuing to darken.

During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.