Toronto-Dominion Bank Chief Executive Officer Edmund Clark faced investor doubts when he announced in 2004 he was buying a U.S. consumer lender, challenging larger rivals such as Bank of America Corp. in the world’s largest financial market.
A U.S. accounting board’s proposal that would require banks to report the fair value of loans on their books will lead to reduced lending, a former chairman of the Federal Deposit Insurance Corp. said.
Stifel Financial Corp., the St. Louis-based brokerage that has quintupled revenue since 2005 with nine acquisitions, may find its biggest takeover opportunity yet in Regions Financial Corp.’s Morgan Keegan & Co.
Lawyers representing Paul Ceglia, the western New York man who claims a 2003 contract with Facebook Inc. co-founder Mark Zuckerberg entitles him to half of Zuckerberg’s holdings, said they are quitting, less than three months after taking on the case.
Singapore said it will raise capital rules for local lenders to more than the global minimum to solidify the city’s reputation as a financial hub after regulators tightened norms for the world’s biggest banks.
Charlsey Smedley, a retired schoolteacher in Orlando, Florida, started moving her checking account last month to JPMorgan Chase & Co. from Bank America Corp., where she has been a customer for more than 35 years.
PNC Financial Services Group Inc.’s $3.62 billion deal to buy Royal Bank of Canada’s U.S. retail unit thrusts the bank across the U.S. southeast, challenging local lenders hurt by the real-estate bust.