U.S. banking
regulators have been asking regional lenders whether they faced
any fallout from the problems at New York Community Bancorp
, several sources said, in a sign that worries about the
health.
U.S. banking regulators to conduct health check after NYCB stock collapses independantexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from independantexpress.com Daily Mail and Mail on Sunday newspapers.
(Reuters) -Wells Fargo said the U.S. Office of the Comptroller of the Currency has terminated a 2016 punishment for the bank’s sales practices, the bank said, after it spent years trying to repair the damage from a fake accounts scandal. The move marks the sixth consent order that was terminated by regulators since 2019, CEO Charlie Scharf said in a statement. "I have repeatedly said that implementing a risk and control framework appropriate for a bank of our size and complexity is our top priority, and closing consent orders is an important sign of our progress," Scharf said in a statement.
Wall Street banks are raising billions of dollars to regain ground in lending to companies in debt-backed deals after giant private equity and asset management firms muscled in on the business over the last two years. Credit markets recovered after the Fed paused its monetary tightening late last year, encouraging banks to make a comeback in leveraged finance using their own capital and outside institutional money to expand private credit businesses. The broader $1.5 trillion syndicated loan market has already seen a revival this year, according to Chris Long, founder and CEO of Palmer Square Capital Management, a Kansas City-based credit manager.
PNC Bank said on Wednesday it is planning to invest roughly $1 billion to open more than 100 new branches and renovate over 1,200 existing locations through 2028. .