Stocks

In the past five years combined only 14 banks failed to meet the minimum market capitalization for inclusion in the index. In this year's rebalancing, 82 are being removed and some may have to consider strategic options to appease investors.

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?

Consumers who have felt betrayed by banks are more likely to turn to mobile apps that give them a greater sense of financial control. Bankers must reconnect with these people and reassure them that their personalized advice is safe and valuable.

PayPal is weighing a foray into stock trading and high-yield savings accounts as the firm pushes beyond its iconic checkout button.

Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

Some 3,400 additional staffers in the treasury management group will be required to get pre-clearance before making trades. The policy change was driven in part by increased regulatory scrutiny, the bank said.

Investors are looking past signs of weakness and toward an eventual recovery, but top executives at BlackRock, Citigroup, Goldman Sachs and other financial firms remain cautious as many cities and states remain in partial lockdown to slow the spread of the coronavirus.

The regional wants to “play offense” with the proceeds of its $17 billion BlackRock stake; shares of some bank shares jumped 6% Thursday but remain well behind the rest of the market.

B. Riley FBR initiated equity coverage of the mortgage giant, citing housing finance reform proposals that could result in Fannie and Freddie Mac being released from conservatorship.