Fintech

The Federal Reserve's campaign to tighten financial conditions has resulted in notably increased borrowing by U.S. banks at the central bank's discount window, normally a last-resort funding source.

Wells Fargo cut hundreds more mortgage employees Thursday, the latest in a series of reductions across the industry after higher interest rates brought the pandemic-era home-lending boom to halt.

Treasury Secretary Janet Yellen, whose signature will soon appear on U.S. currency, joked with the talk show host Stephen Colbert that she worked hard to avoid the ridicule faced by some of her recent predecessors over their sloppy handwriting.

JPMorgan Chase will store gold held by the world's biggest exchange-traded fund in its vaults, a major coup for the bank's bullion business.

Canadian Imperial Bank of Commerce posted earnings that missed analysts' estimates as the lender failed to benefit from rising interest rates.

Toronto-Dominion Bank is making the most of rising interest rates, with widening lending margins lifting results.

InBankshares has hired a former PacWest senior executive — its third leader to come from a regional bank — in a move aimed at bringing in the skills necessary to run a much larger institution.

UBS Group Chairman Colm Kelleher said the bank will focus on the very richest US clients, backtracking from a plan to serve a broader segment of affluent customers after it abandoned a deal to buy the robo advisor Wealthfront.

Carlyle Group plans to raise at least $8.5 billion for a new private credit fund, as it competes with rivals to snap up lending business abandoned by banks.

Canada's banks are expected to post their second straight quarter of declining earnings as the darkening economic outlook slows loan growth and prompts them to stockpile capital, outweighing the benefit of wider lending margins.