Investments

The U.S. unit of Toronto-Dominion Bank plans to invest in CDFIs and specialized funds that serve Black, Hispanic and other diverse business owners in its East Coast territory.

The financial technology firm Stash is exploring options for a market listing, such as merging with a special purpose acquisition company or a traditional initial public offering, according to people with knowledge of the matter.

The Treasury secretary previewed President Biden's budget by urging lawmakers to fund the Financial Crimes Enforcement Network's establishment of a beneficial ownership regime.

The deal with Pioneer Merger Corp. is expected to close in the second half of the year.

The heads of the six largest banks aimed to promote their COVID-19 relief in testimony to the Banking Committee. Democrats said their efforts were insufficient while Republicans criticized the executives for taking public stances on issues like climate change and voting rights.

A New York court ordered the freezing of $560 million in assets held by entities controlled by Renren CEO Joseph Chen, Softbank Group and others, an amount pegged to a stake in the personal finance startup Social Finance, which is slated for a blank-check merger this week.

The fintech's investors include the actors Leonardo DiCaprio, Orlando Bloom and Robert Downey Jr.

Despite concerns about the scope of information that companies would have to provide about risks linked to climate change, some of the largest institutions are seeking to collaborate with the agency as it develops a framework for informing investors.

Last year, many banks made big, splashy pledges to advance racial equity. Now some of those banks are seeking to hold executives accountable for those efforts through their paychecks.

The $1 billion bond, which follows similar issuances by Citigroup, JPMorgan Chase, Bank of America and Truist Financial, gives a big role to broker-dealers owned by minorities, women and disabled veterans.

Warren Buffett’s Berkshire Hathaway exited a bet on Synchrony Financial during the first quarter as the company continued to pare back its investments in financial firms.

The legislation would bar firms that receive government contracts from discriminating against firearms companies. Smaller banks have quietly dropped their opposition in hopes of gaining more municipal bond business.

The best-performing banks' revenue rose at nearly twice the rate of expenses thanks to mortgage refinancing and the Paycheck Protection Program.

Texas moved closer to enacting a law that would ban government work with Wall Street banks whose policies restrict the firearms industry, marking a pushback from Republicans in the gun-friendly state against corporations taking sides in America’s political fights.

FinTrust Capital Partners in South Carolina has $2 billion of assets under management.

The faster IPO alternative is a favorite of fintechs, but accounting adjustments will require some extra compliance, says Donnelley Financial Solutions' Craig Clay.

JPMorgan Chase, the biggest funder of fossil-fuel companies globally, is pledging a 35% reduction in “operational carbon intensity” for its oil and gas portfolio by the end of this decade.

The fintech already sells loans on its distributed-ledger-based trading platform but needed the Securities and Exchange Commission's blessing to bundle its mortgage and student loans into securities and sell them to investors.

The heads of the biggest banks have a chance to tout the industry's community outreach during the pandemic. But they can also expect tough questions about the Paycheck Protection Program as well as what banks are doing to address climate change, racial inequities and other hot-button issues.

Even though recent shareholder proposals aimed at combating racial inequality did not pass, supporters say they got enough votes to keep the issue front and center.