Organization Root Tag

Throughout 2022, the California bank shed interest rate swaps that some believe could have prevented its failure.

The latest figures suggest efforts by policymakers to stem contagion following a string of bank collapses is working, though banks are still borrowing much more than is typical during periods of low stress.

In a sudden shift, Merrill's leader of the past six years is heading back to rival Citi, where he will be head of global wealth and drive its expansion.

The Securities and Exchange Commission has also proposed regulation to "level the playing field" in the equities market.

By integrating its new installment product with its widely popular mobile wallet, Apple is more likely to capitalize on spending data than to focus on creating a large loan portfolio.

The agency responsible for monitoring SVB was plagued by heightened turnover, among other issues.

In his new book, "A Monetary and Fiscal History of the United States, 1961-2021," economist and former Federal Reserve vice chair Alan Blinder tells the tale of how economic conventional wisdom has evolved over the last half-century.

Vice Chair for Supervision Michael Barr will attempt to downplay the immediate threat of the banking crisis as limited to Silicon Valley Bank and Signature Bank, while calling for long-term reforms in congressional testimony this week.

The Federal Deposit Insurance Corp. told neobank Utoppia to cease using the FDIC name, in Spanish and English communications.

The unusual financing is meant to help First Citizens meet liquidity needs that arise in the next two years as it integrates SVB into its operations, the Raleigh, North Carolina, lender said in a regulatory filing.

Rep. Nydia Velazquez, D-N.Y., the House Small Business Committee's ranking Democrat, said she'd like to see the Small Business Administration delay opening its flagship loan guarantee program to more nondepository lenders until it sorted out growing concerns about Paycheck Protection Program fraud.

The Federal Reserve also cited lack of deposit insurance and a reliance on the "speculation"-driven crypto market in its decision to deny Custodia's bid to become a state-chartered member bank.

Companies like U.S. Bancorp have found ways to apply the information they use to serve thin-file applicants to small-business owners and other borrowers.

Sen. Tim Scott, R-S.C., and others on the Banking Committee have requested CAMELS scores for the failed bank and various other supervisory information from the Fed.

The Consumer Financial Protection Bureau says the giant debt collector is a repeat offender that sued borrowers even when it lacked documentation about a debt. The company says it denies wrongdoing but agreed to the settlement.

The Federal Reserve wants a smaller balance sheet to help rein in inflation. But uncertainty in the banking system is pushing it in the opposite direction.

The agency, which oversees government-related investors that set underwriting parameters in the U.S. mortgage market, estimates the process will begin in 2024.

Bank of America's Merrill Lynch arm has been steadily rolling out digital products since 2020, most recently a program for advisors to produce short videos.

Combining the two Swiss megabanks means more assets and a bigger brand for UBS. But it could be a heavy lift, slowing U.S. advisor recruitment.

Economists have warned since last summer that speedy monetary tightening could be destabilizing. This week, the Federal Reserve will decide whether to stay on that course.