The Latest

The president has selected Jerome Powell to serve a second four-year term as Federal Reserve chair and chosen Gov. Lael Brainard as the next vice chair.

After Democrats failed last year to rally support for a federal 36% limit, House and Senate proponents are trying to capitalize on the momentum from state rate caps that recently passed on a bipartisan basis.

SAFE Credit Union in Folsom, California, will promote its chief credit officer, Faye Nabhani, to president on Jan. 1 and then CEO a year later. She will be the institution's first female leader in its 80-year history.

U.S. legislation designed to protect trillions of dollars of assets from chaos when global regulators phase out the interest-rate benchmark Libor is being held up in the House, over a dispute involving tax-related language, according to lawmakers and congressional aides.

Locality Bank in Fort Lauderdale and Gulf Coast Business Bank in Fort Myers would be the seventh and eighth banks to open in Florida since 2017 — the most of any state in that span. Organizers relish the chance to start from scratch, but some observers lament the drop-off in de novos from the pre-crisis era.

Deutsche Bank proposed Alexander Wynaendts as its next chairman of the supervisory board, tapping the former insurance executive to guide Germany’s largest lender as it emerges from a decade of crisis.

John Cassidy will retire as CEO of Sierra Central Credit Union in Yuba City in January. Ron Sweeney, the company’s president, will take his place.

Buying Spirit of Texas would give the Arkansas company access to the Austin, San Antonio and Houston markets and make it a bigger player in the fast-growing south-central U.S.

Two progressive Democratic senators said they oppose the renomination of Federal Reserve Chair Jerome Powell to a second term, joining Elizabeth Warren in urging President Biden to choose someone else.

Deutsche Bank plans to hold an extraordinary supervisory board meeting this weekend where it will discuss candidates to succeed chairman Paul Achleitner, according to people briefed on the matter.