Investments

Municipal bonds have a direct effect on the social and cultural character of cities, metropolitan areas, counties, and states. Munis and the initiatives they support such as public education, housing subsidies, public transit systems, and more, can often be linked to local or regional politics. Join Lynne Funk, Executive Editor at The Bond Buyer and Destin Jenkins, Neubauer Family Assistant Professor of History at the University of Chicago as they explore how municipal bond mismanagement can have contrasting influences on the different ethnic groups in our cities.

Called by House and Senate Democrats, the hearings with the heads of the nation's six largest banks will take place over two days and will likely examine the industry's response to the pandemic and efforts to address climate change and racial equity.

JPMorgan Chase set a goal to finance $2.5 trillion in initiatives that combat climate change and advance sustainable development over the next 10 years, while Citigroup said it would back $1 trillion of similar efforts by 2030.

Retail investors revolted against institutional investors by buying heavily shorted stocks in January, reanimating regulatory concerns about short selling and market manipulation. But is shorting a check on speculation, or a driver of it?

There's often more guidance on what not to do than what to do, says Texture Capital's Richard Johnson.

Trustly Group AB’s plan to raise almost $1 billion through an initial public offering in Stockholm may be followed by a second listing in New York, according to its chief executive.

Bank of America, which has had an environmental business goal since 2007, is significantly increasing its current commitment.

The Financial Stability Oversight Council has struggled to find its footing since its creation in Dodd-Frank. The Treasury secretary has signaled a more aggressive role for the panel, including reviving its authority to target nonbank behemoths.

The joint checking account is similar to its individual checking feature, launched last April, and will target millennial couples in particular.

Loanpal, a provider of residential-solar loans in the U.S., is planning an initial public offering this year that could value the company at more than $10 billion, according to people with knowledge of the matter.

In his annual message to investors, the JPMorgan Chase CEO said Big Tech and fintechs are "here to stay" and vowed to be aggressive in taking on these new challengers. He also predicted that the economy would take off this year, but said capital rules prevented banks from doing more to help blunt the impact of the pandemic recession.

Policymakers have scrutinized social disparities in the financial system and banks' climate-change risks. That has led to a new line of attack from Republicans who say agencies such as the Federal Reserve should stay in their lane.

The scheduled meeting with members of the House Financial Services comes at a time when large banks are warning of significant losses tied to the derivatives blowup at the hedge fund Archegos Capital.

On Dec. 31, 2021. Dollars in thousands.

Treasury Secretary Janet Yellen conducted her first meeting as chair of the Financial Stability Oversight Council and set the stage for a potential recalibration of the panel's role after it was weakened in the Trump administration.

Activist investors are pressuring big banks to further curtail lending to the fossil-fuel industry, undergo so-called racial-equity audits and disclose more about their lobbying practices and financing of nuclear weapons manufacturers.

Bank of America said Tuesday that it would up its initial commitment from $1 billion to $1.25 billion and would increase support in Asian American communities, where violence and incidents of harassment have risen sharply during the COVID-19 pandemic.

Sen. Pat Toomey, R-Pa., warned the regional Federal Reserve bank that its papers about environmental, social and corporate governance policies hurt its ability to stay neutral on partisan issues.

For banks that pass this year’s stress tests, the Federal Reserve said it will eliminate the restrictions on dividends and share buybacks while subjecting those institutions instead to the stress capital buffer.

The Rainforest Action Network says the 2020 decline stemmed more from weak energy demand during the pandemic than banks’ pledge to reduce financing to firms that contribute to climate change.