Patriot warns of quarterly loss, progresses on capital raise
The Connecticut bank disclosed to regulators that it expects to report a $9.5 million net loss for the fourth quarter, but it reported that it’s made headway in its efforts to cultivate investors and bolster its capital levels.
Trump administration must rein in an overreaching FDIC
The agency’s attempt to impose its oversight on asset managers who passively invest in banks is duplicative of efforts by the Federal Reserve. It will result in higher costs for banks and lower returns for investors.
JPMorgan earmarks $50 billion more for direct-lending push
The bank is making the commitment after deploying more than $10 billion from its balance sheet across over 100 private credit deals since 2021.
Banks face promise and peril with weakened bank regulators
While banks have cheered President Trump’s deregulatory promises and welcomed efforts to reform regulatory agencies, experts say the administration’s aggressive efforts to reduce the federal workforce could also result in more slipshod enforcement and weaker crisis response.
Warren Buffett reaffirms his preference for stocks over cash
The legendary investor expressed his inclination for equities even after selling large chunks of Berkshire Hathaway’s investments in three major banks. “That preference won’t change,” Buffett wrote in his annual letter to shareholders.
Miami’s getting a new bank; Citi adds an accounting chief
FNB Corp marked the grand opening of its new downtown Pittsburgh headquarters this week. The bank owns and occupies the majority of the 26-story tower in the city’s Hill District, a new addition to the city’s skyline and one of the few new towers built in the city’s business district in recent years. And long-time […]
OCC fires 76 as part of Trump’s government workforce reduction
The Office of the Comptroller of the Currency is the latest federal banking agency to let go of probationary employees.
Nearly $1.5 billion in tokens lost in Bybit crypto exchange hack
The heist is among the largest ever experienced by the crypto industry and highlights concerns many have over the need for better regulation.
Pro-Russia hackers target Italian banks in apparent DDoS attack
The hacker group NoName057 claimed responsibility for DDoS attacks on major Italian banks, citing President Mattarella’s remarks on Russia’s invasion of Ukraine.
Cathie Wood is OK with the ‘wall of worry’ around Bitcoin
The Ark Invest founder said at a Cboe event the fluctuation in the crypto market is “extremely healthy.”