Stripe takes another swing at PayPal acquisition
Stripe and Advent International have reportedly offered to buy PayPal for $60.50 per share, or $53 billion, a valuation that some think might be viewed as a “low-ball” offer.
Chase, Wells, BofA post strong Q2 mortgage gains
Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.
Banking regulators missed a major loophole in proposed capital rules
As written, new capital standards for U.S. banks fail to account for the additional risk posed by many home loan clients who obtain second mortgages. Fixing the problem will significantly reduce the rule’s benefit to banks.
New York’s data center freeze misses the credit markets
The order stops New York projects at the door. It does not reach the loans and bonds already financing the buildout.
Fed’s Bowman: AI can expand credit access
The Federal Reserve’s top regulator said banks should be left to decide their own best uses for emerging technologies.
Citi’s investment roadmap raises eyebrows on Wall Street
The global bank said it’s ready to take advantage of opportunities to accelerate investments into its business, with an eye toward achieving longer-term, sustainable growth. Analysts had tough questions about the plans.
Business banking fintech Flex raises $70 million
The company plans to use the funding to expand its global banking services, including using stablecoins for cross-border payments.
Merrill boasts of 75% graduation rate for its advisor training program
The well above-average advisor graduation numbers, paired with Merrill’s recruiting efforts, suggest the wirehouse is serious about adding lots of talent.
‘Brutal, then better, then great’ — how advisors’ tenures tie into pay
Financial Planning’s Compensation Survey measured the total pay of hundreds of financial advisors and, perhaps more importantly, the lessons they would share to aspiring planners about forging a successful career.
Big banks get second-quarter rocket fuel from SpaceX IPO
For the banks involved in the record-shattering IPO, this year’s second quarter was marked by a spike in investment banking income.