Lawmakers From Both Parties Grill FDIC Chairman Over Scathing Report

Democrats were largely far harsher with Gruenberg than expected, signaling his job could be at risk if the pressure continues. 


 
Biden's banking rules will fuel inflation, lawmakers say

The banking industry has pulled out all the stops in its fight against new regulations that it argues will raise consumer prices for utilities, groceries and housing - and its campaign is convincing powerful lawmakers on both sides of the aisle. 


 
China's Central Bank Holds Key Policy Rates Steady

The People's Bank of China held key policy rates steady, a move that could preface a hold on benchmark lending rates later this month. 


 
Allianz Backs Full-Year Guidance After Profit Jump

Allianz confirmed its 2024 operating profit target after growth across all of its segments over the first quarter boosted its net profit by 22%. 


 
Commerzbank Jumps After Lifting Lending Income Guidance

Commerzbank raised its guidance for net interest income as the lender reported its best performance in more than 10 years on continued high interest rates and strong customer business. 


 
Fed's Kashkari Sees Rates on Hold for Longer

The president of the Minneapolis Fed said it isn't clear how much downward pressure monetary policy is putting on the economy. 


 
Financial Services Roundup: Market Talk

Gain insight on Element Fleet Management, Hannover Re, and more in the latest Market Talks covering Financial Services. 


 
Vanguard Names Former BlackRock Executive as CEO

Salim Ramji led BlackRock's ETF business and left in January. 


 
PwC's New U.S. Leader Starts Early as Predecessor Heads to Citigroup

PricewaterhouseCoopers' incoming U.S. head took the reins a month and a half early on Tuesday as his predecessor prepares to exit for Citigroup and the Big Four accounting firm gears up for new global leadership. 


 
U.S. Goes After Firms Involved in Sanctioned Oligarch's Attempt to Sell Stock

U.S. Treasury sanctions three financial firms and a Russian national that it says were part of a circuitous plan to unfreeze $1.5 billion in shares owned by Oleg Deripaska.


(END) Dow Jones Newswires

05-15-24 1615ET