Wealth management

Canadian Imperial Bank of Commerce expects its U.S. commercial banking and wealth management business to provide the fastest sales growth over the next three years.

The North Carolina bank’s wealth arm now operates in nine of the 10 largest U.S. markets.

The Pittsburgh company is adjusting the structure of a unit that has a national reach following the acquisition of most of BBVA’s U.S. operations. PNC has also named Jennifer Lee as the private bank’s head of U.S. markets.

The Biden administration’s continued extension of a student loan payment moratorium and the uncertain future of a debt forgiveness plan are causing confusion and uncertainty.

State Street fell the most in almost two months after declining to comment on a report it’s looking to acquire Credit Suisse Group.

The Alabama bank hopes that its new InvestPath platform, which combines automation and personal interaction, will attract first-time investors.

President Biden is considering forgiving $10,000 in student loans per borrower, but eliminating interest on the debt could be a more effective way to reduce the financial burden, according to experts.

Citigroup is weighing a deal to buy Deutsche Bank's Mexican bank amid plans to set up a new local unit as it exits retail operations in the country, according to people familiar with the matter.

The Congressional Black Caucus is requesting a meeting with President Biden to press the case that canceling student-loan debt is a racial equality issue.

Senate Majority Leader Chuck Schumer and fellow Democrats Elizabeth Warren and Raphael Warnock support $50,000 in student debt relief, which is five times what the president has indicated he would support.