In|Vest 2018 Direct

As economic clouds swirl, Swiss ski-resort conclave features optimistic bank execs

In a speech delivered Thursday afternoon, the Federal Reserve's vice chair said she does not see a wage-price spiral driving inflation, but rather a "price-price spiral."

The U.S. government reached its limit on how much money it can borrow on Thursday, teeing up a high-stakes battle in Congress.

The company, which interprets foreign credit bureau data, is opening its first outpost outside of the U.S.

The $104 million-asset Finex Credit Union in East Hartford plans to partner with the $52 million-asset First Connecticut Credit Union in Wallingford.

The Buffalo, New York, bank expects outstanding loans to grow by as much as 9% in 2023. Deposits, on the other hand, could fall.

The Dallas-based bank, whose deposit base is more commercial-focused, has seen significant outflows in deposits over the past year. But last quarter's declines were "better than we expected," and there are other signs that the environment may moderate this year, its CFO said.

Lending momentum and robust interest income powered earnings, but the Georgia bank expects deposit cost increases to weigh on its net interest margin.

The Texas bank will let customers go through the entire process on their phones, at the same time that it emphasizes human service that is not impacted by commissions.

Banks are now embarking on cost cutting, including mass layoffs.