Commercial banking

Canada's banks are expected to post their second straight quarter of declining earnings as the darkening economic outlook slows loan growth and prompts them to stockpile capital, outweighing the benefit of wider lending margins.

BlackRock and UBS Group are among major financial firms taking steps to be removed from a list of companies that Texas has classified as "boycotting" the fossil fuel industry.

The top five have over seven billion dollars in total assets as of June 30, 2022.

Deutsche Bank is weighing cuts to its leveraged finance unit as part of a review by CEO Christian Sewing into underperforming businesses as his three-year restructuring concludes.

Brown has been with the online lender almost since it was spun off from General Motors, helping it broaden its product offerings and take a stand on overdraft fees. Now he must help Ally confront a looming recession.

Apollo Global Management has agreed to acquire Sector Financial, which focuses on middle-market direct lending, as part of its purchase of a portion of Credit Suisse Group's securitized products group, according to people with knowledge of the matter.

Bonus season is looking grim on Wall Street, with year-end incentive pools expected to drop sharply across the finance industry amid a pullback in mergers and acquisitions, persistent inflation and the threat of a potential recession.

JPMorgan Chase is on the hunt for buyouts to lend to and is hoping to gain market share in leveraged financing after avoiding the dozens of clunkers that have cost competitors billions of dollars.

The CEO of Seattle-based Washington Federal says Luther Burbank Corp. was an attractive acquisition target because it offers an entree into California and has a commercial lending operation that could follow WaFd's recipe for growth over the past decade.

After a Texas bank settled allegations by the Department of Justice, experts were split about the extent of the exposure for banks and fintechs that took part in the pandemic-era program.

A new debit card for military veterans, Google expands a billing test and more in banking news this week.

Wall Street banks that lent $13 billion to help fund Elon Musk's buyout of Twitter have been quietly sounding out hedge funds and other asset managers for their interest in a chunk of the buyout debt at deeply discounted prices.

Former Goldman Sachs Group banker Asante Berko was arrested on charges that he orchestrated bribes to Ghanaian officials while employed at the investment bank.

During the third quarter, the industry braced for a potential recession by making it harder for borrowers to access credit, according to a new Federal Reserve survey. Bankers indicated that they are ready to take stronger action in a downturn that many of them now see as likely.

Citigroup said it agreed to buy Deutsche Bank's Mexican bank license amid plans to set up a local unit as the New York-based lender exits retail operations in the country.

The Canadian-owned bank vowed to appeal the large verdict, which illustrated the risks that banks take on when they shoulder the liabilities of companies they acquire.

Investment banking fees at Citigroup plummeted 64% in the third quarter, the company said last month.

The acquisition, which was originally expected to close at the end of last year, ultimately took more than 18 months to receive regulatory approval. It is now expected to close on Dec. 1.

Credit Suisse Group is planning a fresh round of job cuts at the global wealth management business starting next week, adding to dismissals that already started at the investment bank, according to people familiar with the matter.

The potential for either chamber of Congress to turn over to Republicans and rising concern about inflation adds urgency to pass the Durbin-Marshall amendment on interchange fees, experts say.