Corporate finance

The Green Bay, Wisconsin-based bank will record a fourth-quarter loss after agreeing to sell $3 billion of low-yield loans and mortgages. The moves leave the bank well-positioned for 2025, CEO Andy Harmening said.

The Toronto-based bank suspended its medium-term growth targets and announced a full-scale review of its strategies following historic anti-money-laundering failures.

The Toronto-based bank set aside CA$1.5 billion in its fiscal fourth quarter to cover potentially bad loans. Executives say higher-than-normal impaired losses could persist next year.

The Los Angeles-based subsidiary of Royal Bank of Canada posted its strongest performance in six quarters.

The availability and visibility of Bank On-certified accounts, which aim to expand banking access, is contributing to a decrease in the percentage of U.S. households that are unbanked, according to bankers and government officials.

The Canadian bank fell short of analysts' expectations on non-interest income partly because of a higher-than-anticipated tax rate. Scotiabank's results also included a one-time impairment charge related to its investment in Bank of Xi'an Co. in China.

The growth in mobile banking has lowered barriers to accessing the banking system, but the Federal Deposit Insurance Corp.'s National Survey of the Unbanked and Underbanked released Tuesday reveals that minority households are still disproportionately underserved.

Donald Trump's ascension to the presidency creates regulatory uncertainty, but Block's CEO says the company hopes for more clarity for bitcoin and is developing technology to be flexible.

The Honolulu-based banks were reportedly in advanced discussions. But the would-be buyer said "the parties are no longer currently engaged in discussions."

Transaction volume and nonpayment services boosted earnings, and the card network expects these trends to continue into 2025.

The processor's sale of medical software firm AdvancedMD comes as it prioritizes small-business payments, according to Cameron Bready.

The $24 billion-asset bank fully integrated its acquisition of Lakeland Bancorp during the third quarter, and that milestone has positioned the bank for growth, executives said.

CEO Ryan McInerney said the case showed a "clear lack of understanding of the payments ecosystem" after the payment card processor posted better-than-expected earnings.

The Dallas-based bank swung to a loss in the third quarter after reclassifying a large bundle of multifamily loans that it plans to offload under a recently announced strategy pivot.

Bank executives and industry advocates welcomed the Federal Reserve's interest rate reduction but warned that careful planning for future drops is necessary to avoid creating market turmoil.

Alex Chriss says the impact of new payment innovation and strategies at units like Venmo and Braintree will take time.

The San Francisco-based fintech reported record adjusted net revenue of $689 million for the third quarter, fueled by a 64% jump in its financial services and tech platform segments.

The Honolulu-based seller, which plans a Nov. 6 shareholder vote on the deal, posted a third-quarter loss and reiterated its commitment to the Hope agreement. But an offer with a higher price from an investor group is also on the table.

The Green Bay, Wisconsin-based bank said the 16 lenders it's added have helped drive meaningful loan pipeline growth, and that another 10 new hires are expected by early next year.

The bank, which is rebranding to Flagstar Financial, still expects to meet 2027 earnings goals, despite reduced profit projections for the next couple of years.