Finance

The Federal Reserve Bank of Atlanta president said the two mandates are in balance for the first time since 2021, although he is "not quite prepared" to declare victory over inflation.

In August's roundup of top banking news: The impact of National Public Data's breach on banks, USAA agrees to $64 million settlement in overcharging case and more.

It's unclear what will happen when the Fed starts cutting interest rates, but community banks will be there to support their customers no matter what the economy looks like.

Home Loan bank executives said Congress would have to pass a law for the system to increase its affordable housing contribution above 10% of earnings.

The buy now/pay later company beat analysts' expectations on revenue, net income and earnings per share as it issued new guidance for the end of its next fiscal year. Its stock was up as much as 31%.

Canadian Imperial Bank of Commerce and Royal Bank of Canada both set aside much less money than expected last quarter to cover loan losses.

The top executive at Royal Bank of Canada expressed reluctance about expanding south of the border again, citing what he characterized as a changing regulatory landscape and pointing to lessons learned from the 2015 acquisition of City National Bank.

Provisions for credit losses rose 7% in the third quarter, which was less than other Canadian banks have reported. The Toronto-based company also benefited from the first full quarter of results from the unit it acquired from HSBC.

The Canadian lender's cushion for potential credit losses nearly doubled in the third quarter, while its U.S. business idled.

The Bank of Nova Scotia increased its provisions for potential credit losses in the third quarter and said its KeyCorp stake would provide a hefty return on investment.