Investments

A recent mini-tender offer to shareholders in Truist Financial serves as a cautionary tale. "They're trolling around for investors that aren't paying attention," one lawyer said.

JPMorgan Chase led U.S. banks increasing direct loans to states and local governments last quarter as the firms filled a void left by mutual fund investors who fled the traditional municipal bond market amid soaring inflation and surging yields.

The Federal Reserve looks to be paying closer attention to a potential pinch-point that rankled dollar funding markets almost three years ago and could at some stage become a catalyst for ending early officials' plans to shrink the U.S. central bank's expanded balance sheet.

"Animal welfare scores low in priority at many financial institutions" in the U.S., says Merel van der Mark, animal welfare and finance program manager for Sinergia Animal, an organization based in Brazil that has been maintaining a ranking of how banks around the world perform on several measures of ethics with regard to animals.

Bank of America, BNY Mellon and Citi invested $20 million in Genesis Global, a company that helps financial markets organizations develop applications through its low-code platform.

Dominica Groom Williams succeeds Wendy McSweeney, who’s joining a new team at the bank focusing on environmental, social and governance issues.

Banks are making a mistake in their opposition to the SEC’s proposal to mandate disclosure of carbon emissions and other climate data.

GOP lawmakers on Thursday accused SEC Chair Gary Gensler of disregarding their recent request for more information about proposed climate risk disclosure rules. The episode offers a preview of the aggressive oversight Biden administration regulators are likely to face next year should Republicans take control of the House or Senate.

Federal Reserve Chair Jerome Powell recently sold more than $1 million of municipal bonds issued by various entities across the U.S. as tough new ethics rules took effect for central bank officials in the wake of a trading scandal last year.

Bank of Montreal agreed to buy Radicle Group Inc., a sustainability-advisory and emissions-measurement firm, to help clients that are working to reduce their environmental impacts.