Investments

The devastation of communities across Southern California will, inevitably, cause tremendous stress on the banks that serve them. This should be a wake-up call for regulators to take climate risk more seriously.

The enhanced fintech partnership would build merchant scale, and selling U.K. and U.S. portfolios would free up cash.

Bankers are putting pre-established action plans for disaster recovery into motion as wildfires in Los Angeles sweep across the region.

Credit card issuers for years have looked beyond plastic materials to keep their cards top of mind and top of wallet. But just how much does the credit card material actually affect consumers' spending habits?

The banking giant's exit from the global Net-Zero Banking Alliance leaves just three smaller U.S. banks in the group. Climate activists called large banks' departures a capitulation to Republicans' climate denialism.

Arrow Financial in Glens Falls kept busy in December, consolidating its two subsidiary banks, expanding its board and restructuring its securities portfolio.

Bank of America, Citigroup, Wells Fargo and Goldman Sachs have also withdrawn from the Net-Zero Banking Alliance in the past month, as President-elect Donald Trump prepares to take office.

Vulnerabilities related to environmental, social and governance issues have become a serious threat vector when it comes to money laundering. Banks must recognize the danger and adapt their systems accordingly.

The Federal Open Market Committee cut the fed funds target again in December but signaled fewer cuts in 2025. There was some dissent. The markets are watching to see if the Federal Reserve pauses its easing cycle in January. Brian Rehling, head of global fixed-income strategy at Wells Fargo Investment Institute, recaps and parses the previous day's FOMC meeting and Fed Chair Jerome Powell's press conference.

Analysts are unsure what the Federal Open Market Committee will do with monetary policy in 2025. The panel projects two rate cuts, but some analysts expect more, and others see fewer.

The Louisiana-based bank reduced its dividend to a penny, the second reduction it has made this year as it tries to bring down expenses and generate more capital.

Members of the Federal Deposit Insurance Corp. board of directors Tuesday debated Consumer Financial Protection Bureau Director Rohit Chopra's proposal limiting capital distributions system-wide during times of stress, as well as penalties for institutions caught engaging in money laundering.

The Honolulu-based bank is taking a $19.7 million pretax loss to rid its balance sheet of low-yielding investments. It joined a parade of banks that have made similar moves.

The Green Bay, Wisconsin-based bank will record a fourth-quarter loss after agreeing to sell $3 billion of low-yield loans and mortgages. The moves leave the bank well-positioned for 2025, CEO Andy Harmening said.

Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.

Citigroup now operates Grupo Financiero Citi México and Grupo Financiero Banamex in Mexico. The New York-based bank is planning an initial public offering of Banamex as soon as regulators and market conditions allow for the public offering.

Industry observers say the U.S. securities industry's migration to next-day settlement in May 2024 was a technology success story, which has encouraged the U.K. and the EU to follow suit.

Natural disasters are becoming more frequent and more severe, and victims will always require support from their banks. A plan for delivering that support needs to be in place before disaster strikes.

Buy now/pay later popularity has been on the rise as more consumers are turning to short-term installment lending to finance everyday purchases. The Swedish financier will find out if that momentum will be a winner with investors in the U.S.

Donald Trump discussed various items related to the Fed and its independence and stated he would not nominate Jerome Powell for another term as chair. Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, discusses what a Trump presidency may mean for the Fed.