Commercial banking

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.

The stock prices of five of these banks fell by more than 7% on the day they announced their fourth-quarter results, including two with double-digit decreases.

Midsize lenders have largely defied the most dire predictions following Silicon Valley Bank's demise. But the nation's largest banks still have structural advantages, and the regionals remain hampered by their real-estate heavy portfolios and the continuing impact of high interest rates.

During the March 2023 banking crisis, company executives had to calm panicked customers, shore up liquidity and reassure investors after two other regionals failed. Key decisions during a critical seven-day window likely averted disaster.

The Long Island bank plans to balance its loan mix and fix its risk controls. But following a large capital injection led by two former Trump administration officials, the new leadership is asking for more time to formulate its strategy.