Tag: banking

January 30, 2024

2023 brought the most contentious proposed regulation in years: a revamp that would require the U.S.’s biggest banks to hold roughly 19% more capital than they do now. Lawmakers and trade groups opposed to the rule first attacked it on […]

January 30, 2024

The German economy missed slipping into a technical recession by the smallest of margins after the country’s Q3 GDP was upgraded to flat from -0.1%. The first look at German Q4 GDP came in line with market forecasts at -0.3%. […]

January 26, 2024

UK asset management firm Abrdn has announced it is implementing a new “transformation programme” in a bid to streamline its operations and bring down costs, with 500 job cuts proposed. The company says the programme “targets an annualised cost reduction […]

January 24, 2024

Missouri consumers had more than $27.5 million returned from their insurance companies in 2023, the Missouri Department of Commerce and Insurance (DCI) announced. The amount returned to Missouri consumers was a result of DCI’s Insurance Consumer Affairs Division’s mediation work […]

January 24, 2024

The Fed’s report documented the financial squeeze that creditors, especially low-income consumers, were experiencing in recent years, due to rent, auto and credit card payments. More than half of low-income (57%) and moderate-income (53%) consumers were rent-burdened in 2021, meaning […]

January 23, 2024

EUR/USD has been moving lower this week, but has so far managed to hold above its 200-day simple moving average near 1.0840. For sentiment around the euro to improve, the bulls have to protect this floor at all costs; failure […]

January 22, 2024

Established in 1992 and based in Ljubljana, SID Bank operates as a promotional development bank and export credit agency (ECA), providing insurance and financing on behalf of the Republic of Slovenia to promote internationalisation for the country’s export companies. As […]

January 18, 2024

Citizens Bank reduced its headcount by about 650 positions, or 3.5%, in the fourth quarter, the Providence, Rhode Island-based lender said Wednesday in an earnings release. The trim represents a combination of layoffs and attrition, bank officials said Wednesday. “I […]

January 16, 2024

The Federal Reserve Board last week banned a former banker from future work in the industry and issued enforcement actions against three others over their mishandling of sensitive information, according to a Thursday press release from the central bank. John […]

January 11, 2024

In the latest market close, U.S. Bancorp (USB) reached $43.40, with a -0.14% movement compared to the previous day. This change lagged the S&P 500’s daily gain of 0.57%. Elsewhere, the Dow gained 0.46%, while the tech-heavy Nasdaq added 0.75%. […]

January 10, 2024

Less than a month after Farmers Direct Insurance filed for a hefty rate increase on West Virginia auto liability policies, Progressive has followed suit with an almost identical request. The West Virginia insurance commissioner posted a bulletin Tuesday, noting that […]

January 10, 2024

The Corporate Transparency Act (the “CTA”) is a new federal law enacted in 2021 to combat money laundering, terrorism, tax fraud and other illegal activities. Starting January 1, 2024, the CTA will require a substantial number of business entities to […]

January 8, 2024

Bank of America will recognize a $1.6 billion charge for 2023’s fourth quarter, the Charlotte, North Carolina-based lender said Monday, according to a filing with the Securities and Exchange Commission. The charge stems from Bloomberg’s announcement that it would halt […]

January 8, 2024

On 28 November 2023, the UK’s Financial Conduct Authority (FCA) unveiled its Policy Statement PS 23/16 (Policy Statement), which sets out the final rules for sustainability disclosure and investment labels (SDR Rules). The market has been anticipating this development since […]

January 5, 2024

The agreement will see the bank adopt its partner’s ATM-as-a-Service and ITM-as-a-Service offerings as a means to simplify access to financial services for the consumers and businesses it has been serving across Kansas City, USA, for the last 90 years. […]

January 5, 2024

American Bankers Association, America’s Credit Unions, and Independent Community Bankers of America wrote a letter to CFPB Director Rohit Chopra to address their concerns that the CFPB’s proposal for rulemaking on non-sufficient funds (NSF) and overdraft fees triggers the statutorily […]

January 4, 2024

The most recent trading session ended with U.S. Bancorp (USB) standing at $43.21, reflecting a +1.08% shift from the previouse trading day’s closing. The stock’s performance was ahead of the S&P 500’s daily loss of 0.34%. Meanwhile, the Dow gained […]

January 4, 2024

U.S. Bank recently honored two small business clients for their extraordinary commitment to their communities with the bank’s first-ever Boundless Potential award. Taqueria Durango, a Mexican restaurant in St. Louis, and Interfaith Dental, a nonprofit dental clinic in Nashville, were […]

January 3, 2024

The past year has been broadly characterized as one of limited public market activity and rising interest rates putting a dampener on access to capital. For the oil & gas industry, the volume of debt & equity offerings remained at […]

January 3, 2024

On November 15, 2023, the U.S. Tax Court held in YA Global Investments v. Commissioner that a non-U.S. private equity fund (YA Global) with a U.S. asset manager that bought equity and convertible debt of U.S. portfolio companies was engaged […]