by Ken Chase | Jul 5, 2022 | Banks, Market
By: Ken Chase. For weeks, U.S. administration officials have insisted that a recession was “not inevitable,” in response to growing concerns that the reported decline in first quarter GDP might have been a strong signal that the country was heading into an economic...
by Ken Chase | Jul 5, 2022 | Banks, Market
When the Federal Reserve announced the results of its annual bank stress tests in June, confirming that large U.S. banks have the capital reserves necessary to withstand even a severe economic recession. Though the most extreme stress test forecast potential recession...
by Ken Chase | Jun 22, 2022 | Banks, Market
By: Ken Chase. The U.S. Securities and Exchange Commission (SEC) is reportedly investigating the asset management arm of banking giant Goldman Sachs as part of its heightened scrutiny of asset funds that focus on environmental, social, and governance investment...
by Ken Chase | Jun 22, 2022 | Banks, Market
By: Ken Chase. As many analysts predicted, the U.S. Federal Reserve ramped up its efforts to rein in persistently high inflation by increasing its benchmark interest rate by 75 basis points on Wednesday, the largest increase in nearly three decades. The move came on...
by Ken Chase | Jun 22, 2022 | Banks, Market
By: Ken Chase. Ontario-based Canadian bank VersaBank has announced its bid to purchase a single U.S. bank branch in Holdingford, Minnesota for $13.5 million. If the offer is approved by U.S. and Canadian regulatory authorities, the purchase would provide the digital...
by Ken Chase | Jun 13, 2022 | Banks, Market
By: Ken Chase. The Senate Banking Committee voted 17-7 on Wednesday afternoon to approve President Joe Biden’s nomination of Michael Barr to serve as the vice chair of banking supervision at the Federal Reserve. The bipartisan vote saw five committee Republicans join...
