The Latest

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency also flagged stablecoin reserves, deposit insurance claims and brokered deposit requirements as potential liquidity risks.

A top tier of candidates to replace Fed Reserve's vice chair is taking shape.

Net income for the country's six largest banks is expected to fall 15% in the fiscal first quarter, according to data compiled by Bloomberg. That would be the largest drop since the third quarter of 2020.

Former Mastercard chief executive Ajay Banga is a surprise pick to be the next president of the World Bankm as Washington pushes the lender to expand its financial firepower and confront global issues such as climate change and public health.

Centric Federal Credit Union, which previously covered only Ouachita and Lincoln parishes in north Louisiana, has received regulatory approval to add an additional 26 parishes and counties in its home state and neighboring Arkansas.

Apollo Global Management is in talks to inject the funds to support the leveraged-finance business of Credit Suisse Group's investment banking spinoff First Boston, potentially making it one of the biggest backers of the Swiss lender's revamp.

The Federal Deposit Insurance Corp.'s Inspector General says the agency needs to mitigate digital asset risks, and notes that dozens of its affiliate banks are looking into — or are actively engaged with — crypto assets.

The biennial inquiry comes at a time when many are questioning the use of Federal Home Loan bank advances and the system's overall impact on housing.

The sweeping legislative package would require digital-asset businesses to get licensed and add to the authority of the state financial services regulator. Illinois officials say the changes would protect consumers and level the regulatory playing field, but a banking trade group is pushing back against some of the ideas.

Driver Management Principal Abbott Cooper said the Dallas company failed to foresee the spate of interest rate hikes that have cut its profitability. Following the bank's latest rebuff, Cooper is threatening legal action.