Banking

Former Goldman banker Brijesh Goel was arrested last month for insider trading. His friend, ex-Barclays trader Akshay Niranjan, is "co-conspirator 1" in the criminal complaint against Goel, and the man who turned on his buddy, according to people familiar with the matter.

President Biden announced a sweeping package of student-debt relief, forgiving $10,000 in debt for borrowers who earn less than $125,000 per year and households who earn less than $250,000 and $20,000 in debt for Pell grant recipients.

We can't afford to miss this opportunity to build capacity in community development financial institutions.

Bank lending activity grew at a strong clip in the second quarter and continues to expand. Yet rising interest rates and recession concerns could hamper future growth.

Goldman Sachs Group is reconsidering how to launch a long-delayed product for the masses as senior executives wrestle with cost overruns.

Todd Cover, the longtime president and CEO of USSCO Federal Credit Union in Pennsylvania, has joined InFirst Bank as vice president of business development.

The acquisition of Town and Country Financial would provide the buyer entrance into Springfield and St. Louis Metro East.

The Canadian banking giant reported a 22% increase in loan balances, with the largest contribution coming from the United States. The surge in lending helped to compensate for weakness in debt and equity issuances.

HV Bancorp is gaining access to $100 million in fresh funding by agreeing to sell loan participations to MakerDAO, creator of the Dai cryptocurrency.

Staff feedback is crucial to tailoring benefits and designing new workspaces, experts say.

One of the most popular lending platforms for holders of nonfungible tokens such as Bored Apes to borrow against their collections is revising its terms after a drop in prices threatened to trigger the liquidation of much of the collateral backing many of the loans.  

A growing number of challenger banks and fintechs are trying to help customers live more sustainable lives through carbon calculators with localized data.

President Biden plans to make his long-awaited announcement on student debt relief Wednesday, according to people familiar with the timing.

Neal Holland, who has been serving as MUFG Union Bank's chief financial officer, will assume the same role at First Republic. It is the latest in a series of recent changes in the San Francisco bank's leadership ranks.

Forgiving student loan debt will cost between $300 billion and $980 billion over 10 years, according to a new analysis, with the majority of relief going toward borrowers in the top 60% of earners. 

The deal has received regulatory approval but is awaiting a vote by East Allen members, the organizations said.

Credit Suisse Group is shifting resources in the pursuit of business from a broader range of rich clients, as the lender focuses more on wealth management amid cuts to its troubled investment bank. 

A recent mini-tender offer to shareholders in Truist Financial serves as a cautionary tale. "They're trolling around for investors that aren't paying attention," one lawyer said.

In a joint letter to the Consumer Financial Protection Bureau, three industry groups challenged the legal basis for a recent information request and accused the agency of unfairly disparaging the quality of customer service that banks provide.

Interest-free credit and fast approval make BNPL an attractive payment option for consumers, who are increasingly using short-term installment credit to manage their cash flow when paying for immediate, small-dollar purchases.