Scotiabank misses on higher loan provisions as tariffs bite
Bank of Nova Scotia missed earnings estimates for its fiscal second quarter after setting aside more money than expected for bad credit as tariffs hit its Canadian and Mexican operations.
How banks are navigating M&A as unrealized losses persist
A recent deal involving a troubled Texas bank shows that even the most lopsided depository can find an exit.
Inside Marqeta’s quest to diversify clients beyond Block
The card issuing fintech has worked for years to expand its business outside of Block. Mike Milotich, who in February became the third person to hold the fintech’s top job in as many years, has been tasked to do just that.
Western Alliance co-created tech blocks class action fraud
As the class action lawsuit settlement industry became overwhelmed with fraud, a bank and a fraud scoring company teamed up to fight back.
Fed’s Cook: More study needed on bank-nonbank interreliance
Federal Reserve Gov. Lisa Cook said in a speech Friday that the market’s response to recent volatility shows resilience, but more study is needed about the financial stability implications of business relationships between banks and nonbanks.
Supreme Court upholds Trump firing of board members for now
The Supreme Court blocked a lower court injunction reinstating two Democrats who had been fired without cause from the National Labor Relations Board and Merit Systems Protection Board, explicitly holding that Federal Reserve Board members would not be affected by the case.
BancFirst plans to acquire American Bank of Oklahoma
BancFirst Corp. plans to acquire American Bank of Oklahoma; JPMorganChase rolls out a new platform to advise clients on international dynamics; Greg Cunningham takes on a new title, expanded duties at U.S. Bancorp; and more in this week’s banking news roundup.
Geopolitical turmoil calls for a rethink of global risk management
Only by facing the realities of geopolitical uncertainty head-on can we hope to preserve the integrity of the global financial system and enable the flow of capital that underpins prosperity everywhere.
Digital dollars? The stablecoin impact on banks, payments
With licensing bills progressing through both the House and Senate, stablecoins are poised to become part of the regulated financial sector. How the banking and payments landscape will respond to that is up for debate.
SBA moves front and center in GOP’s manufacturing push
A pair of GOP-sponsored bills would modify three of the agency’s major programs in hopes of making more capital available to manufacturers.