Corporate finance

An error in data submitted to the Consumer Financial Protection Bureau about consumers with no credit record — known as "credit invisibles" — has skewed the agency's reports, showing that the number of Americans without credit histories is half what it was thought to be.

Federal Reserve Gov. Michael Barr — who until February served as the agency's top regulator — said community development functions have benefits for the Fed's monetary policy, supervision and research goals.

A widening array of investment banking and trading initiatives across the region is likely to put Morgan Stanley's Asia revenue over the $7.64 billion it posted last year, Asia chief Gokul Laroia said.

Royal Bank of Canada, BMO Financial and others increased allocations to cover the possibility of souring loans as trade pressures shake international markets.

The payments company hopes to build its brand outside of its U.K. home base while attracting a deeper investor pool.

A jump in provisions dragged down the Royal Bank of Canada's profits last quarter, prompted by the bank's fears of a potential tariff-driven recession.

As the Canadian economy weakens in the face of US tariff uncertainty, Royal Bank of Canada and other large banks north of the border are putting aside more money for loans that are still in good standing.

BMO Financial Group has sold a U.S. credit card portfolio and exited a franchise loan portfolio as part of an effort to achieve a return on equity of at least 12% in its U.S. business.

Bank of Montreal in its fiscal second quarter set aside more money to cover loans that are still in good standing, highlighting concern about the fate of the North American economy.

Bank of Nova Scotia missed earnings estimates for its fiscal second quarter after setting aside more money than expected for bad credit as tariffs hit its Canadian and Mexican operations.