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JPMorgan rides to the rescue again, snapping up mortgages worth $1.8 billion as part of PacWest merger

Thu, 07/27/2023 - 08:45

Tech Insider

JPMorgan Chase & Co. — JPMorgan's headquarters in Manhattan.
Leonardo Munoz/Getty Images

Markets, MI Exclusive, JPMorgan, Regional Banks, PacWest Bank, Banc of California, Mortgages

'Bond King' Bill Gross says he's dumping 80% of his regional bank holdings after making 'mucho bucks' in just three months

Thu, 07/27/2023 - 05:51

Tech Insider

Bill Gross — PIMCO co-founder Bill Gross.
Lucy Nicholson/Reuters

Markets, MI Exclusive, Bill Gross, PacWest Bank, Banc of California, banking turmoil, SVB

2 California banks are merging into a new $36 billion bank. It's the latest in a string of consolidations after a crisis rocked the US banking world in March.

Tue, 07/25/2023 - 23:45

Tech Insider : Economy

A Pacific Western Bank sign is seen on May 4, 2023 in Los Angeles, California. — PacWest Bancorp is merging with Banc of California.
David McNew/Getty Images

finance, economy, Markets, Banks, Banking Crisis, Banc of California, PacWest Bank

PacWest plummets 28% to resume sell-off after the regional bank says deposits fell 9.5% last week

Thu, 05/11/2023 - 09:17

Tech Insider

A branch of regional lender Pacific Western Bank in Whittier, California. — A branch of regional lender Pacific Western Bank in Whittier, California.
AP Photo/Ashley Landis

Markets, MI Exclusive, PacWest Bank, PACW stock price, Bank stocks, Regional Banks, regional lenders

Stocks are set for more volatility as the 'unlucky 13' months of strong job growth complicates the Fed's mission to cool the economy

Sat, 05/06/2023 - 08:30

Tech Insider : Economy

now hiring sign with person in front of it — John Smith/VIEWpress/Getty Images

Markets, MI Exclusive, Stocks, S&P 500, Jobs Report, april jobs report, Federal Reserve

Banking 'cancer' may be spreading as otherwise healthy firms seem vulnerable and credit gets pulled from the economy, Mohamed El-Erian says

Fri, 05/05/2023 - 14:31

Tech Insider

Mohamed el-erian — Photo by Rob Kim/Getty Images

Markets, MI Exclusive, Mohamed El-Erian, Banking Crisis, Financial Contagion, first republic bank crash, PacWest Bank

The biggest banks will pay to replenish the FDIC's deposit insurance fund, report says

Fri, 05/05/2023 - 10:06

Tech Insider

The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters in Washington

Thomson Reuters

Markets, MI Exclusive, Banking Crisis, FDIC insurance, first republic bank, PacWest Bank, Western Alliance Bancorp

Banks ask SEC to stop short-seller attacks on their stocks driven by social-media speculation

Fri, 05/05/2023 - 08:04

Tech Insider

Traders — (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

Markets, MI Exclusive, Banks, US banks, US Regional Banks, Short Selling, Short Sellers

Short sellers pocketed nearly $400 million in a single day from the regional bank stock selloff, report says

Fri, 05/05/2023 - 06:30

Tech Insider

trader — A stock trader.
AP Photo/Richard Drew

Markets, MI Exclusive, Stocks, PacWest, PacWest Bank, First Horizon Bank, First Horizon Bank CD

Big name investors like Bill Ackman are calling on the FDIC to insure all deposits, but that would only cost banks' customers more, former FDIC chair says

Thu, 05/04/2023 - 14:03

Tech Insider

bill ackman — Bill Ackman, CEO of Pershing Square Capital, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017.
Reuters

Markets, MI Exclusive, Banking Crisis, first republic bank, Western Alliance Bancorp, PacWest Bank, FDIC insurance

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