The plan calls for the formation of Orca Bank in Bellingham, Washington. It would become a subsidiary of Savi, whose CEO would assume the same role at the bank.

The brokerage plans to cut staff and close or downsize offices in response to investor pressure.

The job cuts come amid caution about the industry's growth potential in the second half of the year. Some 45,000 positions have been lost in banking and related industries over the last two-plus years.

Two-thirds of business executives expect to pursue merger-and-acquisition deals over the next 12 months, according to a new EY survey. That's good news for larger banks with M&A advisory operations.

Goldman Sachs Group is exploring a sale of an investment-advisory business it bought four years ago, undoing another signature deal under CEO David Solomon's ill-fated push to manage money for a broader set of customers.

Banks are committing financing for a slew of new deals, while investors clamor for syndicated loans as interest rates rise.

Expansions in the state by giants such as JPMorgan Chase and Bank of America could accelerate credit union consolidation, as evidenced by two recent deals.

Consumers favor credit cards that offer better spending rewards and that card issuers should consider providing services to help their customers manage growing account balances, J.D. Power's annual survey found.

After an aborted attempt to set up its own bank, Edward Jones is joining forces with Citi to provide savings and checking accounts for clients.

Offices impacted are located in Chicago, Cincinnati and Kansas City, a company representative said Wednesday.

The Truist Leadership Institute is part of a growing corporate leadership-training industry that says it's focused on creating more empathetic leaders. But critics decry the institute's blurring of personal and professional boundaries, and question its scientific backing.

The bankrupt former parent of Silicon Valley Bank is losing $9 million a month in interest on deposits that were trapped when federal regulators took over the failed bank.

Under the proposal being considered by the agency, recipients of public benefits would be unable to enjoy the same access to their financial data given to other citizens.

The Canadian bank committed Monday to lending and investing over $2 billion in the Garden State's lower- to middle-income communities over the next three years. A $50 billion, multistate agreement was scrapped earlier this year after TD failed to get approval to buy First Horizon.

UBS Group AG agreed to pay $1.44 billion to settle a case with the U.S. Department of Justice regarding how it handled residential mortgage-backed securities. 

About two-thirds of respondents in a survey of roughly 300 Bloomberg terminal users said the anti-ESG movement that started in the U.S. last year will force firms to stop using those three letters in conversations with clients.

Cade Thompson, head of U.S. debt capital markets at KKR, said he expects to see a longer list of more formal auction processes that will come to market post-Labor Day.

Jay K. Oberg, a 32-year veteran of the Comerica Bank and a top deputy to CEO Curtis C. Farmer, plans to retire in December 2024.

A regional director of the National Labor Relations Board has determined that the bank illegally imposed a rule prohibiting employees from distributing pro-union literature unless management first approved it, according to agency spokesperson.

UBS Group AG decided to end an agreement with the Swiss government to cover losses it could incur from the rescue of Credit Suisse, a sign that the mammoth integration is on track and the stricken lender's assets might be less troublesome than initially feared.