The U.S. banking industry is rebounding due to strong mortgage demand, but its progress is threatened by a potential surge in delinquencies that could be made worse if lawmakers do not agree on fiscal stimulus, according to the U.S. Federal Reserve.
Investors across the globe are making changes to their portfolios ahead of the U.S. election, with most favoring a victory for Democrat Joe Biden over Republican President Donald Trump, UBS found.
U.S. banks and other financial institutions would be subject to broader anti-discrimination law, prohibiting them from showing preference based on race, religion, sex and gender identity under a bill introduced in the U.S. Senate on Wednesday.
Credit ratings agency Moody’s downgraded its ratings of HSBC, Lloyds Bank and Santander’s U.K. divisions on Tuesday, just days after it also cut the British government’s sovereign debt rating.
Kik Interactive agreed to pay $5 million to the U.S. Securities and Exchange Commission to end a legal dispute over unregisted cryptocurrency sales, as the regulator mounts an aggressive campaign to oversee initial coin offerings.
U.S. digital auto insurer Root is looking to raise up to $604 million in an upcoming initial public offering, marking the latest in a wave of insurtechs angling to tap the public equity markets.
German payments company Unzer is buying Wirecard’s point-of-sale payments sales and commercial support division as the scandal-plagued fintech is sold for parts during its insolvency proceedings, the company said Monday.
Citigroup management failed for years to disclose problems with its internal controls, damaging the bank’s finances and reputation while causing its shares to lose significant value, shareholders alleged in a lawsuit.
ANZ Bank will stop offering foreign exchange cash services to its New Zealand customers starting next month, citing diminished demand due to coronavirus-related travel restrictions.
Janus Henderson on Monday launched an unconventional actively managed exchange-traded fund that invests in collateralized loan obligations, allowing retail customers access to a sector that has usually been limited to institutional investors.
TD Asset Management will lower fees on a group of managed exchange-traded funds worth over CAD 3 billion ($2.3 billion), as fund managers continue to aggressively compete in Canada by slashing costs.
Georgia is set to become the first U.S. state to offer federally subsidized health insurance exclusively through private companies, after the federal government approved the state’s controversial plan on Thursday.
Investors briefed by Trump administration officials on the coronavirus pandemic should be investigated over potential insider trading, U.S. Sen. Elizabeth Warren said in letters to federal securities regulators.
Russia’s largest tech company, Yandex, dropped a plan to acquire the nation's largest digital bank and second-largest credit card issuer, the companies said Friday.
The U.S. Department of Labor is finalizing a controversial rule that would make it more difficult for retirement plan managers to incorporate environmental, social and governance factors into their investment decisions.
Canada’s central bank is curtailing several of its crisis-fighting liquidity facilities as the nation's economy shows signs of bouncing back, despite a possible second wave of coronavirus cases lurking on the horizon.
The Bank of Montreal’s U.S. subsidiary, BMO Harris Bank, is partnering with administrator Nelnet to offer a series of student loan and student loan refinancing products for U.S. customers, the firms said Thursday.
An insurance trade group urged a European Union regulator to handle a plan to impose climate-related stress tests on the industry with caution, asking that the tests be "explorative" and the results for individual firms not be made public.
Global banks and other financial institutions that serve people considered responsible for China’s crackdown on civil liberties in Hong Kong will soon face sanctions, the U.S. State Department said Wednesday.
Insurance broker Willis Towers Watson is launching a new product line providing customized coverage for clients in commercial real estate, as the sector faces continued uncertainty and new risks during the coronavirus pandemic.