Banco Popular de Puerto Rico

The bank’s stock price hit its first record close in three years on the prospect of higher interest rates; the yield on the 10-year Treasury note rose above 1% for the first time since March.

Four federal agencies are looking into alleged aggressive and misleading sales tactics at the company; banks are worried about doling out fat payouts as millions of people are suffering.

The biggest banks are likely to repurchase $10 billion of stock, including $3.2 billion by JPMorgan Chase; the moves follow last week’s storming of the Capitol by Trump supporters.

The giant retailer is looking to expand its menu of financial services products; in the face of competition, the banks are trying to simplify the product to get more people to use it.

The company said it would have eventually prevailed against the DOJ’s antitrust suit; the Ohio senator says the panel will focus on climate change and housing issues.

The bank is combining its wealth management units to serve both the ultrarich and the less affluent; the small business loan program will open to all borrowers on Tuesday.

The action is expected to be challenged by banks and the Biden Administration; the Fed chair says the central bank has no plans to raise rates or tighten monetary anytime soon.

The Obama-era official is expected to reverse the relaxed regulatory stances at the CFPB; the ratings firm is teaming with a French AI startup to try to detect misbehavior early.

Lenders are expecting strong demand for the small business loans, especially for second-timers; a steeper yield curve is helping profits, but stronger loan growth would help even more.

The Wall Street bank’s 51% jump in net income caps a strong earnings season for the biggest banks; President Biden is expected to nominate Michael Barr, a former assistant treasury secretary who helped write the 2010 Dodd-Frank Act, as comptroller.