Investments

The Federal Reserve meeting May 2-3 will be closely watched for hints about what the FOMC's next move is. Join BNP Pariba U.S. Economist Yelena Shulyatyeva at 11 a.m. May 4 as she takes a look at the meeting and Chair Powell's press conference.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

Democrats and Republicans each said the other party's position on ESG investing carries additional costs for states.

Interac launches ID verification, the U.K. cracks down on bitcoin ATMs, and more.

The resignation comes after the bank was placed on the state treasurer's list of fossil fuel industry boycotters.

The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.

Liberty Bank, an $11.6 million-asset lender in Salt Lake City, is the first FDIC-supervised bank in six years to be hit with the lowest Community Reinvestment Act rating possible twice in a row. Regulators identified an unspecified "illegal credit practice" during their review of the bank's performance.

The placement of Wells Fargo, JP Morgan Chase, and Bank of America on the list makes them ineligible for state and local government contracts.

Kaua'i Federal Credit Union in Lihue is launching an "economic resiliency center" for members in the Kapa'a community. It hopes to support minority-owned businesses throughout the area by providing access to housing resources and other funding.

At the embattled Republic First Bancorp, elevated legal, professional and audit fees also contributed to a nearly $10 million in first-quarter loss but CEO Thomas Geisel reports signs of progress moving past "legacy headwinds."

The Securities and Exchange Commission plows ahead with plans to boost oversight of the private fund industry. 

The National Credit Union Administration is seeking the perspective of credit union leaders in areas vulnerable to natural disasters to gauge the true scope of environmental changes and to inform best practices for managing their impact.

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.

Pandemic funding cuts may pop up in any of the four big-ticket, must-pass bills Congress will take up this year.

At the two big banks, proposed phaseouts of lending for new fossil-fuel exploration drew less shareholder support on Tuesday than they did a year ago. The results were a blow to activists who want big banks to take stronger action to combat climate change.

Bank of America hits 100% recycled-plastic card goal for Earth Day, First U.S. Community Credit Union names new CEO, Santander partners with DailyPay, and more in this week's banking news roundup.

The company is adding fixed income securities to its offering while interest rates rise and the U.S. equities market continues to modernize

Regulators had their priorities backward when it came to overseeing SVB and allowed an obvious danger to go unmitigated.

The decrease in long-term interest rates this year has helped banks' bond portfolios recover a bit. Some of them may consider restructuring their securities portfolios in the short run, and longer-term changes are also possible as the fallout from last month's crisis continues.

JPMorgan's board of directors recommended shareholders reject three proposals for the bank to divest from fossil fuels, set new emissions reduction targets and detail 2030 decarbonization plans.