Commercial banking

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

M&T Bank creates new chief communications officer role, Citi cuts London investment banking jobs as deal drought persists, new report by McKinsey advises banks to institute artificial intelligence from headquarters rather than by divisions, and more in our weekly news roundup.

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

The top five banks have combined construction loans of more than $72 billion.

For the second straight year, Goldman Sachs shareholders have filed a proposal calling for more details on racial and gender pay gaps. The request comes as the investment banking giant faces scrutiny over its lack of high-ranking women leaders.

It will take time for the banking industry to work through issues with CRE loans, Brian Moynihan says in discussing the aftermath of last year's banking crisis and New York Community Bancorp's recent warning about its exposure to troubled debt.

The troubled Long Island-based lender laid out steps that it's taking to improve its loan-review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shake-up and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.

Prosecutors claim Dan Rotta, 77, hid more than $20 million from the IRS, using "pseudonyms, complicated corporate structures, and nominees" to conceal offshore assets and income.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

The Long Island-based lender has released a number of new details about its reconfiguration following a $1 billion capital injection led by two former Trump administration officials.