by Ken Chase | Sep 1, 2023 | Banks, News
U.S. regulators have issued a new proposal that would impose tougher long-term debt rules on large regional banks. The new rules would impact insured depository institutions with more than $100 billion in assets. Those IDIs would be required to issue more long-term...
by Ken Chase | Aug 30, 2023 | Banks, News
Banking giant Goldman Sachs has confirmed its plans to sell its high-net worth wealth management unit to Creative Planning LLC. The sale is part of a broader effort by the bank to refocus its strategy and enhance its services to “ultra-high net worth” customers. The...
by Ken Chase | Aug 30, 2023 | Financial, News
Federal Reserve Chair Jerome Powell signaled this week that policymakers may continue to raise interest rates if that’s what it takes to get rising prices under control. Powell delivered his remarks at the annual Jackson Hole Economic Policy Symposium on Friday. He...
by Ken Chase | Aug 29, 2023 | Banks, News
This week, S&P Global Ratings confirmed bank credit rating downgrades for several big banks. The agency noted in a report that the downgraded banks could be “less resilient” than peers due to continuing risks. The move comes just weeks after Moody’s announced its...
by Ken Chase | Aug 24, 2023 | News
This week, in a letter to Senate and House committees, the American Bankers Association offered support for a new home finance bill. The Neighborhood Homes Investment Act is aimed at helping to finance neighborhood renewal. It also has the support of Democrats and...
by Ken Chase | Aug 12, 2023 | Banks, News
In separate announcements, The SEC and CFTC confirmed actions against Wells Fargo and ten other Wall Street companies. The charges allege that the companies failed to properly maintain records of their employees’ communications, as required by federal law. That...
