Governor Gavin Newsom announced the swearing in of Rohit Chopra as secretary of the California Business and Consumer Services Agency, Amalgamated Bank of Chicago promoted Cherie Duve to executive vice president and chief legal officer, Ramon M. Rodriguez joins USCB Financial Holdings and U.S. Century Bank as an independent director, and more in this week’s banking news roundup.
The Nifty Bank index rose more than 400 points on Monday as sharp gains in heavyweights HDFC Bank, IndusInd Bank and ICICI Bank outweighed a nearly 4% crash in Kotak Mahindra Bank shares after Q1 business updates. The Nifty Bank index rose to 58,376, gaining nearly 1%. The index snapped a two-session losing streak today….
A mutual fund primarily invests in stocks, bonds, or commodities, but not every rupee in its portfolio is always deployed in these assets. The fund may maintain a small allocation to “cash and cash equivalents”, a line item that often raises questions among investors. Does a higher cash balance mean the fund manager is bearish?…
Plus, new partners at Weaver and Gross Mendelson; a host of scholarships in Illinois; and other firm and personnel news from across the profession.
Living in Philadelphia’s Society Hill during the 1976 Bicentennial was a banking historian’s dream come true. Most Americans experienced it through the lens of patriotism and politics. I experienced it through the lens of banking history. Philadelphia didn’t just host the Founding Fathers. It financed them. Philadelphia gave us the bank that funded Washington’s army,…
Key Takeaways If you don’t use your credit card, your issuer may consider your account inactive and close it. However, a closed credit card account can negatively impact your credit score, by increasing your credit utilization ratio and reducing the length of your credit history. If you keep an unused credit card open, monitor the…
Austin, Texas posted the steepest per-square-foot decline among major metros at 8.2%, followed by Memphis at 6.0% and Buffalo at 5.2%. Providence, Indianapolis and New York saw the largest gains, up 8.7%, 4.9% and 3.4% respectively. Inventory keeps climbing, but gap remains Active listings reached 1,102,615 in June, up 4.1% from May and 1.9% from…