Fintech

Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases, signaling the central bank was leaning toward downshifting to a 50-basis-point hike in December.

Our current high inflation rates and the recession that is probably facing the economy in 2023 have the fingerprints of Federal Reserve Board Chairman Jerome Powell all over them.

Friendly Hills Bancorp will soon be called First Pacific — a name its CEO has coveted for years. First Missouri recently rebranded as Verimore, a name it made up by combining words from Latin and English. In both cases, the changes reflect the banks' expansion into new markets.

U.S. consumers are more likely to apply for a credit card, and less likely to get rejected, than they were last year, according to a New York Fed survey. The card industry is growing even as the mortgage and auto lending sectors show signs of retrenchment.

Deutsche Bank is weighing cuts to its leveraged finance unit as part of a review by CEO Christian Sewing into underperforming businesses as his three-year restructuring concludes.

Walmart health care executive Cheryl Pegus will join JPMorgan Chase's Morgan Health venture as a managing director, with aims to improve employer-sponsored health care.

A former Deutsche Bank trader cleared of charges that he rigged the Libor benchmark rate has sued the bank for malicious prosecution, saying the company made false and misleading statements to get him prosecuted in the U.S.

While rising rates buoy revenue for the country's largest banks, in the short term they also force them to write down the value of assets they hold on their balance sheet, exacerbating a capital squeeze that's prompted most of them to halt buybacks.

North Carolina Republican Patrick McHenry — who's in line to lead the House Financial Services Committee after the GOP won control of the chamber in the midterm elections — has called for the Fed to stay focused on controlling inflation. Democrats, who retained the Senate, have begun to voice concerns that higher borrowing costs will hurt jobs and potentially cause a recession.

Burke & Herbert Financial Services in Alexandria, Virginia, plans to list its shares on the Nasdaq stock market — not to raise funds, but to boost its profile with investors.