Warren Buffett’s Bank of America stock sales slow after price declines
Berkshire Hathaway began selling BofA shares in July and has whittled its stake down to just above 11%.
‘Show them death and they’ll take despair’: Banks not sold on Basel III redux
Large banks welcomed regulators' proposed changes to last year's controversial reform package, but remain skeptical about the need for more capital.
Harris, Trump clash on taxes in debate light on economics
Vice President Kamala Harris sought to outline proposals on housing and a child tax credit, while former President Donald Trump highlighted an aggressive tariff plan.
Truist hits reset button after falling short on key profit metric
The North Carolina bank lowered its medium-term target for return on tangible common equity target, reflecting the fact that the financial projections for the merger of BB&T and SunTrust Banks have not come to fruition.
Rep. Barr floats bill to limit regulators’ freedom to join global groups
A bill from Rep. Andy Barr, chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, would make it harder for regulators to enter into international regulatory agreements like Basel III.
Bowman critiques stress tests for volatility, duplicity and opacity
Federal Reserve Governor Michelle Bowman called for reforms to reduce volatility, increase transparency and address overlaps in stress tests and capital requirements for banks.
JPMorgan shares fall after it reins in expectations for next year
The largest U.S. bank will likely record lower net interest income and higher expenses in 2025 than Wall Street had forecast, a top executive said Tuesday.
KeyBank launching AI copilot to help dentists drowning in paperwork
The bank has partnered with a fintech, Zentist, to give dentists a system that automates insurance and billing processes.
Camden National to acquire New Hampshire bank in all-stock deal
The Maine-based bank's bid for Northway Financial was valued at $86.6 million. It is expected to be finalized in the first quarter of 2025.
Basel III isn’t about SVB anymore, and it never should have been
In his reset of the Basel III endgame proposal outlined Tuesday, Federal Reserve Vice Chair of Supervision Michael Barr deemphasized the connection between last year's bank failures and raising capital. That makes a world of sense.