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M&F Bancorp and Optus merge, creating the largest US Black-owned bank
M&F Bancorp Inc. of Durham, North Carolina, and Optus Financial Corporation of Columbia, South Carolina, signed a merger agreement to create the largest...
Charles Schwab posts record Q2 results, stock dips on expense growth
The Charles Schwab Corporation reported record Q2 2026 financial results that exceeded analyst expectations. The firm posted adjusted earnings of $1.62 per...
Major US Banks Detail Widespread AI Adoption and Productivity Gains
Executives from America's largest banks highlighted the tangible results of multi-year artificial intelligence investments during their Q2 2026 earnings calls....
Goldman Sachs Leads Bank Earnings Beats, Driven by Trading and Consumer Spending
Major U.S. banks exceeded Wall Street expectations for the second quarter. Goldman Sachs reported $6.6 billion in earnings. The firm generated $20.3 billion in...
U.S. Bancorp Hits Record Revenue, Raising 2026 Forecast on Loan Growth
U.S. Bancorp reported record second-quarter revenue of $7.71 billion. Earnings reached $1.35 per share, exceeding Wall Street expectations. Robust loan growth...
Goldman Sachs reports record Q2 revenue, fueled by 92% earnings jump
Goldman Sachs reported record net revenues of $20.34 billion for the second quarter of 2026. Diluted earnings per share reached $20.98. This figure represents...
Goldman Sachs Smashes Q2 Estimates, Fueled by Record Investment Banking Fees
Goldman Sachs reported record-breaking financial results for the second quarter of 2026. The firm generated net revenues of $20.34 billion. Diluted earnings...
EU Ends Cross-Border Banking, Forcing Foreign Firms to Localize
The European Union implemented the Capital Requirements Directive VI (CRD VI) today, July 11, 2026. This harmonized framework replaces the previous patchwork...
Amazon, Google, Microsoft, and Oracle face UK oversight, targeting systemic risks
The Bank of England, Prudential Regulation Authority, and Financial Conduct Authority will oversee Amazon Web Services, Google Cloud, Microsoft, and Oracle as...
JPMorgan Taps SambaNova for AI Hardware, Targeting Faster Banking Operations
JPMorgan Chase has selected SambaNova to build out its on-premises AI inference capabilities. The bank will integrate SambaNova’s fifth-generation SN50 chip...
JPMorgan and BofA Eye Fiserv’s Debit Networks to Control Payment Infrastructure
JPMorgan Chase, Bank of America, and Wells Fargo are in preliminary discussions to acquire the STAR and Accel debit card processing networks from Fiserv. This...
Wall Street Banks Forecast Q2 Surge, Driven by Massive SpaceX IPO
Major Wall Street banks expect strong second-quarter earnings following a surge in sales and trading revenues. JPMorgan Chase, Bank of America, Citigroup,...
FCA seeks more power, warns AI agents will reshape consumer finance
The UK Financial Conduct Authority (FCA) published a report today requesting expanded regulatory powers to manage rapid AI evolution. The agency warns that...
US Private Credit Redemptions Hit Record $15.6 Billion in Second Quarter
Investors withdrew a record-breaking $15.6 billion from private credit funds during the second quarter of 2026, signaling rising pressure in the sector. This...
US Treasury launches Trump Accounts, seeding $1,000 for newborns
The U.S. Treasury Department officially launched the Trump Accounts program on July 4, 2026. This tax-advantaged savings vehicle was established under the One...
Wells Fargo joins Goldman Sachs conviction list, signaling aggressive growth shift
Goldman Sachs added Wells Fargo to its US Conviction List on July 1, 2026. This move signals a strong buy recommendation and a positive outlook for the...
JPMorgan invests $10 billion in defense, citing national security
JPMorgan Chase launched a $10 billion direct investment program for the defense sector. This initiative targets companies critical to national security and...
BIS warns AI spending risks financial bust, citing $1 trillion tech surge
The Bank for International Settlements (BIS) warned of mounting risks to global financial stability in its 2026 Annual Economic Report. The report identifies...
BIS Warns of Global Growth Risks, Citing Debt and AI Leverage
The Bank for International Settlements (BIS) warned of significant global growth risks in its Annual Economic Report. High public debt, financial system...
Fed’s Kashkari forecasts 2026 rate hike, citing AI investment boom
Minneapolis Fed President Neel Kashkari now expects an interest rate hike before the end of 2026. This projection reverses his previous forecast of a rate cut....