Morgan Stanley seeks TRO against top producer who joined Raymond James
Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.
Bank M&A value triples in 2024, volume through October tops 2023
The number of banks announcing plans to sell this year reached 108 by the end of Oct.; Truist Financial promoted Brad Bender to chief risk officer; Old Point Financial made Cathy W. Liles its chief financial officer; and more in this week’s banking news roundup.
Ginnie Mae acting president steps down
Sam Valverde, acting president of Ginnie Mae, has resigned after about six months in the job.
Fed report: CRE loans, governance among top risks
In its semiannual supervision and regulation report, the Federal Reserve flagged climbing loan delinquencies and a rising number of large bank citations for governance and controls.
Trump taps his former SEC chair for ‘Sheriff of Wall Street’
The president-elect has nominated Jay Clayton to be U.S. Attorney for Manhattan. Clayton has no experience as a federal prosecutor.
How Mastercard’s gen AI ‘agents’ onboard customers
The card brand uses a new form of generative AI that improves data sourcing, making human involvement less necessary.
Best Banks to Work For 2024 with more than $10B of assets
This year, nine banks with more than $10 billion of assets made it onto American Banker’s Best Banks to Work For 2024 ranking. Pinnacle Financial Partners in Tennessee is the largest bank on the list.
TD Bank’s next CEO faces unique challenges after AML revelations
The bank’s U.S. operations will be closely monitored during a yearslong probationary period, during which any sign of backsliding could trigger swift punitive action.
Post-election surge in Treasury yields means more near-term CRE pain
Treasury yields rose the day after President-Elect Donald Trump was picked. The short-term result: It’s harder for commercial real estate lenders and borrowers to find common ground.
Powell: Fed is in no hurry to lower interest rates
The Federal Reserve chair said there are no economic indicators calling for rapid rate cuts. He also addressed Fed independence, the impact of Trump’s economic agenda and more.