New Jersey top court takes up VRDO rate-rigging case against banks
The state supreme court agreed to review the ruling in favor of a group of Wall Street banks that whistleblower Edelweiss said cost the state at least $100 million.
Trump floats a public offering for Fannie Mae, Freddie Mac
The president said he would consult with the heads of Treasury, the Commerce Department and the Federal Housing Finance Agency he comes to a decision.
TD beats estimates on lower-than-expected loan-loss provisions
Toronto-Dominion Bank set aside less money than expected for souring loans in the second quarter, despite concerns that U.S. tariffs would hamper economic growth.
What Capital One must do to realize its payments ambition
The credit-card issuer, which recently closed its acquisition of Discover, hopes to become a true competitor with Visa and Mastercard. It won’t happen right away, but analysts expect a large potential payoff if the multiyear push goes well.
House committee advances bank supervisory measures
The House Financial Services Committee passed bills to expedite bank merger review, limit the use of reputational risk in bank examinations and imposing timelines for supervisory determinations.
Fed paper flags ‘underappreciated’ risks of private credit
As private credit tops $1 trillion, Fed researchers warn bank exposure to the sector could spark systemic risk if defaults spike.
Shareholders lament the rise of virtual annual meetings
Five years after the pandemic forced banks to switch to online annual meetings, shareholders are growing frustrated by the lack of in-person options. Some wonder if they’ll ever again be in the same room as boards and management teams.
Lead Bank CEO calls debanking ‘a fiction’ at fintech summit
Jackie Reses stirred debate by dismissing debanking as largely fictional during a Tuesday summit attended by many crypto-focused fintechs.
New partnership helps banks flag fraud on Google
Whether in fake ads or misleading documents, anywhere fraud might be happening on Google, banks have a new way to quickly shut it down.
Dailey to retire from PNC Bank; Funk named as successor
Samantha Funk will step up as new head of public finance at PNC after Rob Dailey retires at the end of July.