Global bank earnings: TD Bank’s AML provisions, BMO’s loan challenge
Between TD Bank’s $3 billion anti-money-laundering hurdle and BMO Financial Group’s increased provisions for loan losses, here are the earnings highlights for non-U.S. banks.
Utah bank uses gen AI to watch for emerging problems at fintech partners
First Electronic Bank is using technology from Spring Labs to analyze its fintech partners’ customer communications and identify problems.
Banks’ Q2 profits rise to $71.5B despite lending headwinds
Net income climbed more than 11% from the first quarter, even as banks set aside more money for possible bad credit and wrestled with deteriorating office markets.
Harris pushes 28% capital gains tax rate on millionaires
The increase would “ensure that the wealthy and big corporations pay their fair share” at a level that also “rewards investment in America’s innovators, founders and small businesses,” Harris said.
New Mountain merger to create $3 billion medical payments company
New Mountain Capital is combining three companies in its portfolio: the Rawlings Group, the payment-integrity business of Apixio, and a recently acquired firm called Varis. The new entity would use AI to track health plans’ payments to doctors and hospitals.
Press Release: FDIC-Insured Institutions Reported Net Income of $71.5 Billion
PRESS RELEASE | SEPTEMBER 5, 2024 FDIC-INSURED INSTITUTIONS REPORTED NET INCOME OF $71.5 BILLION Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains Community Bank Net Income Increased Quarter Over Quarter The Net Interest Margin Declined Slightly, Driven by the Largest Banks Domestic Deposits Decreased From the Prior Quarter […]
CIBC shuffles leaders again as Hountalas moves to vice chair
Canadian Imperial Bank of Commerce is planning its second executive shuffle in six months, which the CEO says is part of its routine talent-management process.
ConnectOne to expand on Long Island with $284 million acquisition
The deal to buy The First of Long Island Corp. would create a $14 billion-asset bank with $11 billion of both loans and deposits.
Kamala Harris has an opportunity to make crypto better for consumers
The Democratic nominee should seize the moment and reset her party’s relationship with the crypto industry, focusing on safety, equity and access to financial services.
Banks hint at legal challenge to new interagency security tracking rule
The American Bankers Association says a proposal to replace its own financial security identifier with one owned by Bloomberg exceeds the agencies’ statutory authority and could disrupt financial markets.