Tag: economy

April 3, 2023

With the collapse of several banks in the last few weeks, many fear that their deposits aren’t safe and another financial crisis is looming. Worse, the fight in Washington over raising the debt ceiling threatens to strain the system still […]

March 24, 2023

U.S. Bancorp (USB) closed at $35.06 in the latest trading session, marking a +0.78% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.3%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.34%. […]

March 3, 2023

Republicans on the Senate Banking Committee are keeping a watchful eye on the Federal Reserve’s ongoing review of bank capital requirements. Sen. Tim Scott, R-S.C., the ranking member on the committee, sent a letter to Fed Chair Jerome Powell on […]

March 2, 2023

As more credit unions take steps to improve diversity, equity and inclusion, executives and other experts are debating how much progress has been truly made since the death of George Floyd in 2020. The culture war dominating the political news […]

February 28, 2023

“I will make no apologies that we are investing to make America strong. Investing in American innovation, in industries that will define the future, and that China’s government is intent on dominating,” said President Joe Biden at his State of […]

February 28, 2023

U.S. Bank announced today that it has added portfolio optimization capabilities to its Pivot client platform, giving collateralized loan obligation (CLO) clients comprehensive insights for faster and more effective trading. Using a set of criteria selected by the client, Pivot […]

February 28, 2023

U.S. Bancorp (USB) said in a filing Monday that the Consumer Financial Protection Bureau (CFPB) is considering a potential enforcement action against the bank as part of a previously-disclosed probe into its administration of unemployment insurance benefit prepaid debit cards […]

February 27, 2023

The Heritage Foundation’s 2023 Index of Economic Freedom, released Monday, offers sobering insights into setbacks to economic freedom across the globe, including, regrettably, here at home. Since its inception in 1995, the index—an annual global study that compares countries’ entrepreneurial […]

February 15, 2023

Last year’s three-part series on corporate tax rates (here, here, and here) primarily focused on the case for low rates in the United States. Today, we’re going to look at why the United Kingdom should have a low corporate tax […]

January 23, 2023

This week the US government reached its 31.4 trillion dollars borrowing limit, better known as the “debt ceiling.” This led to a showdown among House Republicans, President Biden, and congressional Democrats. House Republicans are demanding that President Biden and Senate […]

December 2, 2022

The Labor Department’s Bureau of Labor Statistics said the economy added 263,000 jobs in November, higher than the anticipated 200,000; and the unemployment rate held steady at 3.7 percent. But there are troubling trends in Friday’s employment report: Despite the […]

December 1, 2022

Brian First has been promoted to president of Arch Insurance North America. First was promoted from chief underwriting officer of programs, property and specialty. First, who joined Arch in 2014 and has 30 years of industry experience, will now have […]

December 1, 2022

U.S. Bancorp (NYSE: USB) today announced that it has completed the acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group, Inc. (NYSE: MUFG). The transaction brings together two premier organizations to serve customers and communities […]

November 23, 2022

Although the outflows have been “reduced substantially from the elevated levels of the first two weeks of October 2022,” they have yet to reverse, Credit Suisse said Wednesday. The pace of withdrawals pushed the bank’s liquidity below some local-level requirements, […]

November 22, 2022

China’s vibrant financial sector, a solid underpinning of the economic prowess and a crucial part of the country’s reform and opening-up, is set to anchor the world’s second-largest economy toward higher-quality growth and amplify its role as a stabilizer of […]

November 22, 2022

The last time the 12-month consumer application rate for credit cards was higher than in June of this year was in June 2019 when it reached 28.4%, according to the Fed’s data. In a slightly different measure of the credit […]

November 15, 2022

“Elections matter” and Americans should strive to “elect people that are representing the interest of pensions,” said Kentucky State Treasurer Allison Ball on Monday in Washington, D.C. She also sharply criticized ESG investing and explained that many voters are unaware […]

November 14, 2022

Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, announced that one of its wholly owned subsidiaries has closed its loss portfolio transfer transaction with specialty insurance underwriter Argo Group International Holdings Ltd. to reinsure a number of its direct U.S. […]

November 14, 2022

Year after year, Bank Director’s annual M&A surveys find a wide disparity between the executives and board members who want to acquire a bank and those willing to sell one. That divide appears to have widened in 2022, with the […]

November 4, 2022

“As we refocus on retirement, we have decided now is the appropriate time for TIAA Bank to begin a new chapter under new ownership,” David Nason, TIAA’s chief operating officer said in a statement. “The changes we’re announcing are in […]