Financial institutions

Former Minnesota Gov. Tim Pawlenty said Tuesday he is resigning as CEO of the Financial Services Roundtable as speculation grows that he plans to run for governor again.

Bank stocks tumbled on Monday amid a wider sell-off as investors' concerns mounted that wage growth could lead to inflation, higher borrowing costs for businesses and changes in the Fed's rate-hike plans.

Several banks suffered fourth-quarter hits when they reduced the value of certain energy investments. Still, renewable energy could remain a viable business thanks to other benefits embedded in the tax law.

On Sep. 30, 2017. Dollars in thousands.

On Sep. 30, 2017. Dollars in thousands.

Banking is one of the last industries in which all the biggest companies are still run by men. That's not changing anytime soon — thanks, JPMorgan Chase. Kate Quinn plans U.S. Bank's SuperBowl debut and JPM's Marvelle Sullivan Berchtold launches an exciting venture.

Profits fell 42% at the Birmingham, Ala., bank because of a $121 million tax charge in the fourth quarter, but net interest income and noninterest income each rose 14%, softening the blow of the one-time tax hit.

The regional bank sold the business, which serves about 90 clients, to a New York commercial finance firm.

The company, which has been actively curbing growth to avoid becoming a systemically important financial institution, reported lower loan balances and reduced fee income after exiting the residential wholesale mortgage business.

The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday.

Consolidation can help community institutions better tackle the many regulatory and financial challenges facing them.

Four financial trade associations sent a letter to Senate leaders touting the regulatory relief bill as "example of how our elected leaders can advance necessary solutions by working together and across the aisle."

The Financial Stability Oversight Council should ignore two recent Treasury Department recommendations regarding the labeling of systemically risky nonbanks.

Kim Manigault, who previously was chief financial officer for the company’s technology and operations organization, will be responsible for ensuring that Key continues to make diversity and inclusion a priority in hiring.

The special round of certification will close on Feb. 16, and credit unions approved for CDFI status will be notified by the end of March.

The Japanese cryptocurrency exchange Coincheck says roughly $400 million of the digital currency NEM was stolen. If banks and others are to invest in the digital-asset industry, it will have to do better.

The Louisiana company recorded charges tied to recently passed tax reform and the purchase of Sabadell United Bank.

Marathon International Bank would target the Ethiopian community with specific advertising and educational programs.

The Texas bank also capitalized on rising rates and a positive adjustment to deferred taxes tied to tax reform in reporting a double-digit gain to profits in the fourth quarter.

The Community Home Lenders Association sent a letter to the Senate Banking Committee on Wednesday laying out its priorities for GSE reform.