Private equity makes loan payments with more debt to keep cash
Financing buyouts with “payment-in-kind” loans can preserve cash, but cost more; banks are losing out to private lenders on some of these deals.
Why the community bank stock rally stalled
A small bank stock index posted its biggest gain of the year in early November before that progress faded. What will it take for investors to sustain confidence in the sector?
Rep. Maxine Waters asks PNC, Wells to put bank branches in her district
Rep. Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.
BNY Mellon raises minimum pay, offers new worker benefits
Bank of New York Mellon is hiking its minimum wage 12.5%, offering stock options to a wider range of employees and expanding well-being programs amid a tight labor market and increasing demand for employee benefits.