Fintech

Farmers & Merchants Bank of Long Beach took an $85 million loss on the sale of $1 billion worth of municipal bonds. It plans to reinvest the proceeds into higher-yielding loans and investments.

dLocal, whose clients include Amazon and Uber, is trying to build a global transaction network amid a heightened awareness of "payments sovereignty." Yang Yang Zhang, dLocal's new APAC head, spoke with American Banker about how the firm is managing the pressure.

Many traders took the Federal Reserve chair's tough talk on inflation as a signal that the central bank is poised for a rate hike, but the corresponding dip in long-dated bonds proved short-lived.

Florida, Georgia, Texas and Arizona are all states where U.S. Bank, which operates mainly in the Midwest and the West, sees growth opportunities.

The largest firm in the independent brokerage channel is also the fastest growing. But the industry's rapid expansion alongside rising equity values over the past three years may be hiding some firms' vulnerabilities.

Banks are putting money into creating services to keep customers happy, but the thing that will keep customers happiest is out of their control.

Royal Bank of Canada executives said they see plenty of organic-growth opportunities in the U.S., including in Texas, but would also consider acquisitions.

Amex, Capital One and Chase are outperforming airlines in airport lounge customer satisfaction. New entrants in the premium travel card space are opening their own lounges to compete.

The Fed's annual Jackson Hole symposium brings together bankers from around the world, but there's really only one question that matters. You know what it is.

Firms like Nium and Amex GBT are using virtual cards and agentic commerce to take a crack at easing the complicated processes involved in business trips.