Battle between CEO and investment chief has alarmed clients and sparked departures
Month: July 2017
Merger expenses cut into profits at People’s United
But the Connecticut company says the efficiencies of its recent acquisition of Suffolk Bancorp will begin to be realized soon.
Hedge funds regain lustre as assets hit record high
Returns were positive for eight months in a row in longest winning streak since 2004
East West reports broad loan growth, cautions U.S. on trade policy
The California lender, which specializes in trade finance, reported strong growth in commercial and other lending categories last quarter, and it urged the Trump administration to seek fair trade deals with China.
Vendor of loan technology plots expansion after $13M raise
LendKey, whose software helps financial institutions make student, auto and home improvement loans, closed a Series C round led by a fund whose investors include more than a dozen banks.
Associated to buy Bank Mutual in merger of large Wisconsin banks
The $482 million deal would be Associated’s first bank acquisition since June 2007.
Capital One’s profits climb on across-the-board revenue growth
The McLean, Va., lender, which has substantial exposure to subprime consumer loans, also added to its provision for credit losses.
Small lenders fear GSE reform would resurrect bulk discounts for big banks
The discounts that Fannie Mae and Freddie Mac used to offer large originators for selling them bulk bundles of mortgages continue to haunt small lenders, who worry a new housing finance system could revive the practice.
Ukraine pulls PwC bank audit licence over $5.5bn hole at top lender
Decision follows firm’s alleged failure to identify improprieties at PrivatBank
Fed panel puts faster payments on three-year track
An influential task force established by the central bank envisions a future in which the U.S. has multiple real-time payment systems, and in a new report it lays out a series of actions that will be necessary to stitch them together.