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Goldman Sachs Group has started cutting managing directors across the globe as the firm reduces its headcount amid a deals slump, according to people familiar with the matter.

Small-business owners need more help from financial services companies when it comes to making major decisions about their companies' future.

Goldman Sachs Group plans to add Tom Montag to its board, enlisting a prominent alum at a time when discontent in the firm's ranks has spilled into public view.

Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.

The Federal Reserve governor said regulatory response to this spring's bank failures should be targeted on key issues and emphasize transparency.

The legislation has support among Republicans, who hold a slim majority in the chamber.

Will St. Clair is the general manager of growth at GeoComply.

After working for the Federal Deposit Insurance Corp. for a decade, Marc Minish was determined that he could open his own institution. Now he is the primary organizer of the proposed Nova Bank in Huntsville, Alabama, which has received conditional regulatory approval.

The KBW Bank Index and KBW Regional Banking Index have each fallen more than 4% this week and are set for their worst weeks since early May, when JPMorgan Chase agreed to acquire First Republic Bank following its failure.

Lee Reams II is the CEO of TaxBuzz and CountingWorks and has spent the last 20 years developing and executing tools that help small tax and accounting firms thrive.