Banco Popular de Puerto Rico

The $11.6 billion deal is one of the biggest bank deals since the 2008 crisis; card lender profits at risk as people cut spending and repay balances, which is boosting returns on card-backed bonds.

PNC’s acquisition of BBVA’s U.S. unit is as much about profitability as it is about expansion; as another Republican defects, the question becomes: Who will show up for the Senate vote?

Republicans fail to muster enough votes but Mitch McConnell left open the door for another try; card balances drop again in third quarter but mortgages and auto loan outstandings rise.

The two mortgage companies would need capital of $283 billion to absorb losses before going public, its regulator says; the 50% rise in just 30 days has some worried about another crash.

The announcement is met with an unusual rebuke from the Fed, which wants the programs to continue; the deal would allow the companies to approve credit and customize services.

The regulator said banks must make loans to the oil industry based on risk, not politics; three big banks say they will offer advantageous terms on supply-chain finance.

The former Fed chief would be the first person to hold the top three economic positions in government; lender Oportun Financial filed paperwork to start its own bank in California.

Praise for the former Fed chair as she confronts a troubled economy as presumptive Treasury secretary; the fine is the bank’s second large penalty in the past three months.

The finance unit wants to accept deposits to support its auto lending business; but the U.K. bank is not considering a full exodus from the U.S., where it wants to grow wealth management.

The digital currency’s recent 90% jump is being fueled by ‘less speculative fever;’ the liquidity facility designed to enable small banks to make more PPP loans has been extended until March.