A new rule by the SEC requiring disclosure on short-sell positions was welcome news for bank stocks beleaguered by short positions in last year's sell-offs. The Financial Industry Regulatory Authority was to begin posting delayed short-sale info on bank stock securities in August. Although not a complete plug - hedge funds are excluded, and individual money manager positions remain hidden - the rule will give short-selling exchange-traded funds some needed scrutiny, said Atlanta-based FIG Partners, whose research in January found one ETF had a 35 percent impact on large-cap bank stocks through its own daily traded volume. "Thank goodness these ETFs, who helped pile on short-selling of bank stocks and recklessly pushed them to extreme lows by early March 2009, are finally getting their day in court," FIG Partners wrote in its Aug. 3 newsletter.
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The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
April 26 -
The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
April 26 -
The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.
April 26 -
The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.
April 26 -
Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
April 26 -
The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.
April 26