Investments

The House Financial Services Subcommittee on Financial Institutions and Monetary Policy debated bills that would lower some banks' regulation and allow banks to pay some Deposit Insurance Fund assessments with Treasuries.

Investments in carbon-removal credits could help scale new technologies, and they offer certain benefits over the purchase of carbon offset credits. But critics said the $200 million investment is small in comparison with the bank's commitment to reach net-zero emissions by 2050.

The banking giant plans to put all asset managers through training in Python programming language, whether they 'like it or not.'

The three-year-old law required banks and other corporations based in the nation's most populous state to appoint a minimum number of board members from designated underrepresented communities. A federal judge said that it imposed an unconstitutional racial quota.

Rep. Maxine Waters is adding to the pressure that the North Carolina bank is feeling in connection with a community benefits plan that was mostly expected to benefit communities in California. First Citizens, which bought SVB from the FDIC, has so far been noncommittal.

Last year, just 31% of the bank's shareholders voted in favor of compensation packages for top executives. Support climbed to 89% this year after JPMorgan vowed not to make any more special one-time awards to Chairman and CEO Jamie Dimon.

Berkshire's move out of several financial stocks and into Capital One in the first quarter, detailed in a regulatory filing Monday, comes after CEO Warren Buffett said publicly he was cooling on the sector.

A better understanding of the likelihood of deposit flight would help banks avoid the kind of run that led to the failure of Silicon Valley Bank.

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.