Bank stocks

Wells Fargo’s stock took off last year amid signs that Charlie Scharf is making progress in his efforts to turn the lender around.

U.S. bank stocks are headed for their worst losing streak in a year, burning investors who bought shares on expectations that the Federal Reserve raising rates for the first time since 2018 would boost the sector.

Rising inflation could lead to a rate hike, bolstering lenders' profits in 2022. Improved credit quality and an economic rebound are also fueling investment in the sector.

The movement encouraging investment in banks run by African American management teams gained huge momentum in recent weeks, but a spat between one of those lenders and an activist investor highlights the potential downside.

Carver Bancorp and Urban One, two companies that serve black and underrepresented communities, more than doubled Wednesday, reflecting increased investor interest in supporting black-owned businesses amid global protests against police brutality.

Fannie Mae has chosen Morgan Stanley while Freddie Mac is going with JPMorgan Chase; the bank’s overhaul plan has helped make it the best-performing big-bank stock so far this year.

Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering.

The Los Angeles regional bank recorded the $1.5 billion noncash charge after its stock price ended March below its tangible book value.

They are under less pressure from policymakers to halt repurchase plans, but some have already hit the brakes and others may unofficially do so if the pandemic worsens.

Sen. Sherrod Brown of Ohio, the top Democrat on the Banking Committee, said financial institutions "need to be investing in their communities right now, not investing in their CEOs’ stock portfolios.”