Wealth management

Clients have been yanking their cash since the Pasadena, California-based company said on Aug. 21 that Leech was going on leave after he received a notice from the SEC that it may recommend enforcement action.

Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income.

The sale of the $318 million-asset portfolio comes five weeks after the Greenville, South Carolina-based company agreed to sell its investment advisory unit.

The pension plan's investment is a show of support from one of the world's largest private markets investors for the securities.

With Theorem, Pagaya's fund management business is expected to grow to more than $3 billion of capital

Transportation, automotive, healthcare, and commercial real estate are the sectors most affected, but borrowers are doing better than expected.

Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.

Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.

Advocates say the federal court's decision could materially disrupt the securitization market's operations, which provide critical access to capital for consumers and businesses.

Two weeks after Ted Pick rose to CEO, the company slightly revised its long-term targets for efficiency, return on tangible common equity and other metrics. Yet, Pick says, "there's not a change in strategy" after the departure of his predecessor, James Gorman.