Retail & Commercial

A U.S. District Court ordered the Philadelphia-based bank, headed by Vernon Hill, to respond by Monday to Driver Management’s claim that its board improperly postponed a May 10 shareholder meeting.

Properly designed public banks would be safer than private banks while promoting economic growth.

A cannabis-related company said it has secured a $60 million credit facility backed partly by East West Bank. The California-based regional bank is moving into a realm once dominated by small banks, credit unions and more expensive nonbank lenders.

The San Francisco bank is following the lead of other U.S. megabanks by providing shorter-term targets ahead of 2050 climate pledges.

Over the past year, BofA has launched or enhanced a slew of technology-based features for business clients of all sizes, from a “start a business” microsite to cash-flow forecasting.

The moves were widely anticipated, with the markets already pricing them in, as the central bank attempts to get the upper hand on record-setting inflation.

Financial losses stemming from sanctions and the threat of cyberattacks are just some of the major concerns from across the industry.

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

The Florida bank said it would pay $173 million to buy Drummond Banking, which operates 18 branches in the northern part of the state.

Lenders argue that they're taking steps to eliminate or rein in the consumer fees, but several Democratic senators say reform legislation could be a necessary step in the near future.