Fed’s Waller eyes rate cut before July
With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.
M&T seeks Northeast growth, optimistic on Trump-era mergers
The bank is “very optimistic” that Trump will appoint financial regulators who are “more balanced” than current agency heads, CFO Daryl Bible said.
Supreme Court mulls future of the Corporate Transparency Act
The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks’ AML compliance burdens.
PNC reports profit jump, sees growth opportunities in 2025
The Pittsburgh-based company’s fourth-quarter earnings increased more than 80% from the same period in 2023, beating analysts expectations and leaving CEO Bill Demchak excited about prospects for 2025.
National banks must continue exercising caution with cryptocurrencies
It’s no accident that national banks have, so far, been insulated from major crypto disasters. Congress and the incoming administration should take heed and avoid eliminating the guardrails that have kept banks safe.
U.S. Bancorp ‘confident’ in strategy after bumpy 2024
The $678 billion-asset bank highlighted its payments and investment management and trust business as fee generators in the recently ended quarter.
Sen. Tim Scott criticizes FHFA actions, eyes housing reform
The Senate Banking Committee Chair launched an agenda that puts agencies on a shorter leash and separately took aim at the FHFA recent moves.
Bank of America profit beats expectations, boosted by fees
In the final quarter of 2024, the nation’s second-largest bank saw its revenue and earnings per share grow beyond Wall Street’s estimates.
First Horizon’s earnings slip after securities portfolio restructuring
The Memphis, Tennessee-based bank had a $91 million loss related to its securities portfolio, which weighed on noninterest income.
Exclusive: Rep. Andy Barr to reintroduce de novo bank bill
The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.