Commercial lending

Texas is seeking information from more than a dozen major finance firms on whether their operations discriminate against the fossil-fuel industry. 

The $1.38 trillion U.S. leveraged loan market is nearing an innovation that could finally shift back-office operations to a centralized system and away from investors having to manually track their positions — a process that can still include the occasional fax.

Prosecutors say Rafael Martinez and his company, MBE Capital, used false information to reap more than $71 million in fees from loans made under the Paycheck Protection Program.

Demand for green bonds and other financing tied to climate and environmental projects is growing and should expand further, Bank of America CEO Brian Moynihan said.

The industry is contending with trading volatility, the economic effects of soaring energy prices and the risk of prolonged high inflation following Russia’s Feb. 24 invasion. Citigroup, TD and Comerica are among the banks that have commented on how their businesses may be affected.

Toronto-Dominion Bank set targets for reducing the emissions intensity of lending to certain energy industries, charting a clearer path for a plan to reach net-zero emissions by 2050 while still boosting its loan book in those sectors.

Bank of Montreal laid out a plan to sharply reduce emissions connected to loans to the energy and power-generation sectors by 2030 as its aims for a longer-term goal of being net zero.

On Dec. 31, 2021. Dollars in thousands.

Toronto-Dominion Bank, which earlier this week announced a $13.4 billion acquisition to expand in the U.S., got a lift from loan growth at home.

Most loans to mortuaries are backed by the Small Business Administration, so they are capped at $5 million. The Delaware lender is teaming with an industry insurer to offer much larger loans to funeral home owners seeking to acquire rivals or refinance operations.