Commercial banking

With taxpayer dollars and creative deals, these nonprofit funding institutions can help recruit private-sector capital off the sidelines and into underserved markets, leveraging as much as $8 in private funding for every $1 that comes from the government.

Jefferies Financial Group asked staffers to come back to the office on a more consistent basis as it looks to work through its investment banking backlog in the coming months.

The Delaware-based bank sees a particular opportunity to serve senior living communities and long-term care facilities. It has hired Kevin McKeown from Fulton Bank to run the new group.

The Federal Reserve is closing in on the launch of its real-time payment settlement system next year. By that time it will be six years behind the private-sector alternative, and it could prove to be redundant to a future Fed-issued digital currency.

Federal Reserve Chair Jerome Powell's speech in Jackson Hole reaffirmed that the end of accommodative monetary policy is coming to an end. This is a boon to banks, but only those that have managed their balance sheets just right.

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.

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.

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. 

JPMorgan Chase led U.S. banks increasing direct loans to states and local governments last quarter as the firms filled a void left by mutual fund investors who fled the traditional municipal bond market amid soaring inflation and surging yields.

Conversations with about a dozen Credit Suisse dealmakers, traders, financiers and wealth advisors depict a unit girded for a reckoning.

The $369 billion directed toward climate preparedness in the Inflation Reduction Act is expected to reverberate through the economy for years to come and could supercharge private investment in the nation's clean energy sector. 

Citigroup's markets operation had hundreds of blind spots, allowing for potentially abusive transactions to go unnoticed in almost 900,000 trades processed every day at the bank's Canary Wharf headquarters for more than two years.

Wells Fargo bungled the 2020 sale of Occidental Petroleum shares on behalf of an employee trust, leading to millions of dollars in losses when the bank failed to execute trades as planned before the COVID-19 pandemic tanked the stock market, a judge in Texas ruled.

Record fines that the world's biggest investment banks are expected to pay in the coming months reflect years of frustration among U.S. regulators that their investigations were being hampered by unmonitored messaging among bankers.

Citigroup has sued Revlon in a bid to resolve a nagging legal question that emerged after the bank mistakenly wired $900 million to the cosmetics giant's lenders and intensified after Revlon filed for bankruptcy.

In Arizent's second annual survey examining how consumers feel about financial services companies, credit unions largely came out on top. Here's what banks can learn.

The rating agency has revised the long-term issuer default rating for PacWest Bancorp and its banking subsidiary, Pacific Western Bank, from "BBB" to "BBB-" and says it doesn't expect the bank's common equity Tier 1 ratio to bounce back anytime soon.

Morgan Stanley tapped its treasurer to help run its banking units, where it's been building out its lending business over the last decade.

The serial acquirer agreed to pay $488.6 million for Professional Bank, which operates in areas of South Florida that have seen an influx of business activity since the start of the pandemic.

A warning for investment bankers who enjoyed lavish bonuses for 2021, when banks opened their wallets to reward busy dealmakers amid a war for talent: Don't expect a repeat this year.