Fed and OCC hit Amex with $350M penalty over anti-money laundering deficiencies
Regulators found significant deficiencies in how American Express implemented its enterprise-wide AML program, particularly at its subsidiary national bank.
Bankingdive · +7 outlets
HUD opens probe into Wells Fargo's programs to boost Black homeownership
HUD Secretary Scott Turner called the 2017 and 2022 lending initiatives immoral and un-American, escalating federal scrutiny of bank diversity programs.
Bankingdive · +14 outlets
US bank investors focus on higher rates and deal outlook as Q3 earnings season opens
Big banks kick off third-quarter reporting with investors weighing the effect of elevated long-term yields on net interest income and capital markets activity.
Reuters · +14 outlets
Fed consolidates bank supervision structure under Vice Chair Bowman
The changes are intended to install clearer decision-making authority and accountability across the Fed's supervisory function.
Bankingdive · +14 outlets
TD Cowen resumes US large-cap banks with Buy on Goldman, Hold on Morgan Stanley
The analyst initiation gives Goldman Sachs a Buy rating and a $95 target on Wells Fargo as coverage of the sector restarts.
TradingView · +4 outlets
RBC's decade of growth puts it in Goldman Sachs's market-value league
Royal Bank of Canada's sustained expansion has lifted its valuation toward the level of top-tier US investment banks.
Bloomberg.com · +1 outlets
Third Coast to buy Oklahoma bank for $240M
The Houston-based lender's second deal in about a year adds an Oklahoma franchise to its footprint.
Bankingdive · +6 outlets
TowneBank's Blueharbor deal shrinks the pool of North Carolina bank targets
Scarcity value makes the remaining Tar Heel State banks quite valuable after the Virginia lender paid a premium for Mooresville-based Blueharbor.
Bankingdive · +3 outlets
Anchorage Digital acquires Routable to link stablecoin issuance with payout distribution
The deal ties stablecoin issuance, custody and settlement to multi-denominational payout distribution under Anchorage's trust charter.
Bankingdive · +5 outlets
Goldman Sachs' likely next CEO brings an unconventional profile to the top job
The succession candidate's non-traditional Wall Street background is seen as a potential advantage for the firm.
Inc.com · +2 outlets
KB Home Q3 profit falls even as average home prices rise 4%
The homebuilder's margin pressure contrasts with firmer pricing in its third-quarter results.
Stock Titan · +8 outlets
Ally Financial CEO says narrower focus is driving better returns
Michael Rhodes said the strategy is delivering improved returns at the $200 billion-asset lender, though credit and rates may challenge execution.
Bankingdive · +2 outlets
Banco de Bogota in focus as Colombia seeks IMF support
The Colombian lender's shares are drawing attention amid the country's talks with the International Monetary Fund.
Simply Wall Street · +1 outlets
Fintech stocks down more than half draw value interest
The picks target fintech names that have lost over half their value, a barometer of the sector's post-2021 reset.
The Globe and Mail · +8 outlets
DBS, OCBC and UOB shares slide, raising the question of whether it is time to buy
Singapore's three big banks have fallen, prompting a reassessment of valuations in the city-state's financial sector.
The Business Times · +7 outlets
Insurer stocks with large bond portfolios draw focus as yields reset
Higher long-term rates reshape the investment income and reinvestment outlook for insurers and their dividend durability.
Simply Wall Street · +4 outlets
JPMorgan's dividend safety record seen outpacing Wells Fargo despite lower yield
Wells Fargo's higher payout is weighed against JPMorgan's stronger record of maintaining its dividend through cycles.
24/7 Wall St. · +1 outlets
US bank investors watch higher long-term rates for sector winners and laggards
Screening pieces rank which lenders and financial stocks stand to benefit or warn from sustained elevated long-term US rates.
Simply Wall Street · +1 outlets