Category: fox-business/topic/banking

Capital One to acquire Discover Financial

Capital One, a Warren Buffett-backed consumer bank and credit card issuer, announced Monday that it will acquire the credit card lender Discover Financial Services. Capital One announced that the deal will create a “global payments platform at scale, with 70 million merchant acceptance points in more than 200 countries and territories.” The all-stock transaction will be at a premium of 26.6% based on Discover’s closing…

Fed’s Barr says regulators more aggressive with banks, focused on interest rate risk

The Federal Reserve’s top supervisory official said Friday that bank regulators are flagging problems at banks at a higher rate over the past year and are conducting additional exams at firms facing large unrealized losses. Federal Reserve Vice Chair for Supervision Michael Barr added that bank examiners are “closely focused” on how firms are managing commercial real estate risk as that sector faces post-pandemic pressure….

Real estate pain for US regional banks is piling up, investors warn

New York Community Bancorp’s exposure to commercial real estate has intensified investor scrutiny around regional banks, with some expecting more pain for those with office and multifamily property loans. Fears about the health of the smaller banks have escalated again a year after the collapse of Silicon Valley Bank in spring of 2023 triggered a regional banking crisis. NYCB’s recent earnings release which sparked a…

With check fraud on the rise, new AI-powered platform helps banks fight back

While it has become unusual to see someone write a check at the grocery store these days as credit and debit cards have become widely adopted, checks are still a commonly used form of payment, and check fraud has exploded in recent years. The U.S. Treasury’s investigative arm, the Financial Crimes Enforcement Network (FinCEN), reported last year that reports of check fraud in 2022 exceeded…

Bank that purchased failed community bank close to credit downgrade

New York Community Bank’s stock slide continued Thursday as it faces a potential downgrade from Moody’s after posting a surprise loss and announcing a dividend cut. NYCB is looking to build reserves on its balance sheet after it bought some of Signature Bank’s assets last year after it failed amid the regional banking crisis. Moody’s said Wednesday it was reviewing NYCB for a downgrade that…

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