Credit

Banking & Capital Markets

Puerto Rico Reaches Deal Over $35B in Debt

The deal with supporting creditors “will reduce the amount of Commonwealth-related bonds outstanding to less than $12 billion.”
Banking & Capital Markets

Bank Profits Surge 8.7% to $60.7 Billion in Q1

Boosted by a 6% gain in net interest income, the industry's strong Q1 performance followed a record year in 2018.
Credit

Sanders, AOC Call for Cap on Credit Card Rates

The high-profile lawmakers say a 15% cap is needed to protect consumers from the "economic brutality" of big banks.
Credit

Banks Ease Terms on Business Loans in Q1

A Fed survey finds banks were encouraged to ease terms on C&I loans by "a more favorable or less uncertain economic outlook."
Banking & Capital Markets

Fiserv Hit With Lawsuit By Credit Union

A small Pennsylvania credit union alleges security vulnerabilities and other problems with the vendor's core processing services.
Human Capital & Careers

JPMorgan Chase Names New CFO; Lake to Head Consumer Lending

The CEO of card services, Jennifer Piepszak, inherits the CFO spot from Marianne Lake, who was appointed CEO of consumer lending.
Accounting & Tax

New Loss Accounting Rule Will Dent Some Banks’ Capital Levels

Banks with large portfolios of consumer loans and high loan-to-asset ratios may take the worst hits, according to S&P Global Ratings.
The Economy

Treasury Yields ‘Invert’ in Possible Recession Sign

"Yield curves are responding to what they see, to what I believe is a global economic slowdown," a portfolio manager says.
Bankruptcy

A Busy Day for Bankruptcies

The U.S. Bankruptcy Court in Delaware saw three mid-market Chapter 11 filings on Monday. Is it the start of a flood?
Credit

Banker Confidence Levels Are Slipping

Despite a strong fourth quarter, many U.S. bankers foresee a worsening economy and higher funding costs.
Legal

Philadelphia Sues Banks for Bond Rate Collusion

The city says seven big banks conspired to inflate rates on VRDO bonds so they could "continue to collect re-marketing fees for doing nothing."
Credit

Banks See Tighter Standards on Loans in 2019

The Fed's latest survey of loan officers shows "an increasing number of banks bracing for a lending slowdown.”
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