Economy

PacWest's shares soared as much as 96% in U.S. trading Friday, while Western Alliance Bancorp rose as much as 59%.

The fund, which aims to create a self-sustaining, nationwide secondary market for CDFI microloans, has made progress, but it remains far short of its goal, its managing director said.

A potential pause in the cycle by the Federal Open Market Committee is welcomed by housing industry observers, but inflation and inventory hinder activity.

The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.

Her statement calls out "a fundamental misunderstanding about the fees" following concerns expressed by two congressmen and others about their impacts.

The U.S. and other Western nations have imposed severe financial penalties against Russia. Will this boil over into other countries?

The Green Bay bank has seen stable performance since its recent strategy overhaul.

The Dallas-based bank expects some of the recent deposit outflows to return in the future.

After seeing deposit increase over the second half of March, CFO Dermot McDonogh restated the New York custody giant's guidance for a 20% year-over-year jump in spread income, hinting the company might actually overshoot its target.

The Connecticut bank joins Zions Bank and Leader Bank in recent upgrades to the technology they use to serve this market – and hopefully snag customers who fled Silicon Valley Bank after its failure.

Banks could be in for a long, slow trickle of bank failures and consolidation in the coming months and years, particularly if inflation persists and interest rates keep rising. A downturn in commercial real estate could add to banks' problems.

Lexicon Bank's cautious approach to its balance sheet helped it weather the pandemic and avoid some of the mistakes that plagued other failed banks.

Two housing-policy experts whose previous recommendations have been closely followed by the Biden administration are defending the Federal Home Loan Banks, raising the stakes in a debate over whether a major overhaul is needed.

Federal Reserve lending data released Friday showed that bank lending declined by the greatest level ever during the end of March, an indicator that credit conditions are worsening.

As FDIC seeks a buyer for the remaining assets left after its sale of most of Signature Bank to Flagstar Bank, the agency has announced $60 billion in deposits — including some New York City commercial real-estate loans — will be on the market by this summer.

It would be unwise to restrict the use of Home Loan bank advances to housing-related lending.

Employees of the collapsed bank are using LinkedIn, and old-school means, to find new jobs.