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.
Banking lobbyists have launched an e- mail and Web campaign to mobilize investors against a proposed expansion of fair-value accounting rules that may force banks such as Citigroup Inc. and Wells Fargo & Co. to write down billions of dollars of assets.
Regions Financial Corp. , Alabama’s biggest bank, had its credit rating cut for the second time this month by Moody’s Investors Service after the lender ousted three managers who oversaw risk and souring assets.