NY Fed report: Return to zero rates a ‘significant’ risk

New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the “medium to long term.”

Planet Hollywood sues BankUnited over unforgiven PPP debt

The show business-themed restaurant, which benefited from a federal loan near the start of the pandemic, says it now owes millions thanks to the Miami-based bank’s “fraud, negligence, and misrepresentations.” A BankUnited spokesperson declined to comment.

The securities that banks are backing away from

This could be the second year in a row that the market for U.S. bank preferred shares has shrunk, something that hasn’t happened since the lenders were replacing obsolete capital after the global financial crisis.