banking

In the midst of the financial crisis in October 2008, Berkshire Hathaway Inc. CEO Warren Buffett made a significant late-night phone call to the then-Treasury Secretary Henry "Hank" Paulson. Buffett aimed to share an idea that could potentially revive the struggling economy. Don't Miss: Why Silicon...

The Assistant Secretary for Financial Institutions, Graham Steele, delivered remarks on the digitization of financial services at the Transform Payments USA Conference. His views were yet more confirmation that central bank digital currency (CBDC) are top-of-mind among the central...

Stocks closed modestly lower last week with the S&P 500 shedding 0.3%. The index is now up 7.4% year to date, up 15.2% from its October 12 closing low of 3,577.03, and down 14% from its January 3, 2022 record closing high of 4,796.56. In the wake of the failure of Silicon Valley Bank ...

The unfolding of the banking crisis since March has exposed the weakness of the global financial sector, driving a massive influx of investment toward decentralized finance (DeFi) assets and cryptocurrencies.  See Next: Gamers Making Thousands Selling Gaming Skins And Assets: Gameflip’s...

The acquisition of Silicon Valley Bank by First Citizens BancShares Inc (NASDAQ: FCNCA) and rumors of a U.S. government's extension of emergency lending arrangements provided relief to markets and the banking sector on Monday. But it also resulted in significant shocks in...

The S&P 500 index, which is tracked by the SPDR S&P 500 ETF Trust (NYSE: SPY), reclaimed the crucial psychological threshold of 4,000 on Tuesday, as U.S. policymakers give assurances on the stability of the financial system. The ETF posted a 1.31% daily gain and is up 3....

Billionaire investor Bill Ackman said Friday that Bank of America (NYSE: BAC) will buy Signature Bank (NASDAQ: SBNY) on Monday, as bigger systemic banks continue in their efforts to rescue distressed smaller banks.  The CEO of Pershing Square Capital Management has recently campaigned for...

Former Treasury Secretary Larry Summers said that the crisis surrounding Silicon Valley Bank would result in "severe" consequences for the innovation sector of the U.S. economy if regulators don't handle the bank's collapse smoothly.  In an interview...

It took 179 years after the New York Stock Exchange was established in 1792 for a Black investment firm to take a seat. And while there were already Black financiers and businessmen such as America’s first Black millionaire, Jeremiah G. Hamilton, who died in 1875, there are others who...

Binance founder and CEO Changpeng Zhao is exploring the possibility of purchasing banks to bridge the gap between traditional finance and cryptocurrency. What Happened: Zhao said he is open to either investing in banks as a minority investment or a full acquisition, according to a report by...

U.S. Rep. Trey Hollingsworth (R-IN) has made more than 90 trades in the last three years. Since 2017, Hollingsworth has been a representative for Indiana's 9th Congressional District. During that time, he has been a member of the House Financial Services Committee, which...

SLM Corp (NASDAQ: SLM) reports third-quarter earnings after the closing bell on Wednesday afternoon. Investors will be watching closely for key numbers as well as any commentary on the potential financial impact of President Joe Biden's student loan forgiveness program. The Numbers:...

Credit Suisse Group AG (NYSE: CS) has offered to buy back its debt securities worth about $3 billion in the backdrop of concerns about the Swiss bank's financial health, which had dragged its share price and led to an increase in bets against its debt. What Happened: Credit Suisse’s...

Credit Suisse Group AG (NYSE: CS) dominated headlines Monday morning amid rising concerns about the Swiss bank's financial health and new developments continued to unfold pointing to problems with the lender's business.  What Happened: According to a...

Banks and credit unions face the same challenges every year. Some trends affect almost all financial institutions, including brick-and-mortar banks, unions, and even neobanks. Bancography provided its annual 52 pages banking industry analysis for 2022. Let’s summarize and analyze the trends...