Chase CEO for Business, Ben Walter, expressed the bank's commitment to small business owners, stating, “We want to be good partners to our business clients and that means listening to them and creating products and services that meet their needs.”Small business owners will now be able to electronically create and send invoices through a new digital invoicing solution offered by Chase. This service aims to help businesses get paid faster and more efficiently. In a recent survey, 86% of small business owners emphasized the importance of sending and receiving invoices...
Bank of America President of International Bernard Mensah is set to take part in the Barclays Americas Select Franchise Conference on May 8 at 1:30 p.m. British Summer Time in London, as announced by Bank of America. The event will also be accessible via a live webcast on the Bank of America Investor Relations website.Describing Bank of America's role in the financial sector, the institution is highlighted as a key player, catering to a wide spectrum of clients, including individual consumers, small and middle-market businesses, and large corporations. The company offers...
Heather Hogsett, Senior Vice President of Technology and Risk Strategy for BITS, testified before the House Subcommittee on Cybersecurity and Infrastructure Protection regarding the implementation of the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA). In her remarks, Hogsett called for significant changes to the proposed rule to enhance its effectiveness for both the government and industry.Hogsett emphasized the need for revisions in the proposed rule, stating, “CISA should rewrite its proposed rule to avoid collecting more data than necessary...
MADISON, Wis., May 1, 2024 /PRNewswire/ -- Fairway Independent Mortgage Corporation, named #1 for customer satisfaction among mortgage origination companies in the J.D. Power 2023 U.S. Mortgage Origination Satisfaction Study, announced today the addition of four origination teams to its ranks.The Kirk Scrima, Dan Kaminski, and Steve Kaminski team, previously with Summit Funding, will now operate offices in various California locations, as well as branches in Arizona and North Carolina. This team, bringing 22 teammates to Fairway, funded 291 units in 2023, amounting to...
Dallas, May 1, 2024 - The Highland Opportunities and Income Fund (NYSE: HFRO) has announced its regular monthly distribution of $0.0385 per share, payable on May 31, 2024, to shareholders of record at the close of business on May 24, 2024.The Fund, managed by NexPoint Asset Management, L.P., operates as a closed-end fund aiming to provide capital growth and income in a registered fund format. This distribution adjustment aligns with the Fund's current portfolio and investment objective, as implemented on January 4, 2024.Investors are advised to carefully consider the...
Service Corporation International (SCI) has reported its financial results for the first quarter of 2024, showing a positive start to the year. Chairman and CEO, Tom Ryan, expressed pride in the company's performance, stating, "Today we are proud to start off the year with earnings per share of $0.89 and net cash provided by operating activities of $220 million." Ryan attributed these results to the strong performance in the cemetery segment, with notable growth in preneed cemetery sales production and comparable cemetery revenue and gross profit.Acknowledging the efforts...
Washington, D.C. – The Bank Policy Institute (BPI) has emphasized the importance of clear and objective standards in mergers and acquisitions (M&A) for the benefit of bank customers and the economy. In a statement for the record presented at the House Financial Services Subcommittee on Financial Institutions and Monetary Policy hearing, the BPI highlighted the significance of a healthy M&A pipeline with defined timelines and expectations for merger approvals.According to the BPI, uncertainties created by recent federal proposals could have detrimental effects on the M&A...
Small business owners across the nation, particularly in the Southeast, are facing heightened stress levels and concerns about inflation, as revealed by Truist's annual Small Business Pulse Survey. Scott Stearsman, the head of small business banking at Truist, noted the resilience of small businesses amid economic uncertainties, stating, "In recent years, our survey has shown the impact that economic uncertainty and high levels of stress can have on small business owners regionally and nationally."Despite expressing optimism about growth in 2024, many small business...
Flagstar Bank has been announced as the featured Business Partner for the month of May. The bank, headquartered in NY, boasts over $100 billion in assets and a robust Corporate Banking Division.The Corporate Banking Division of Flagstar Bank is highlighted for its focus on lending verticals that cater to the specialized needs of its clients. One of the key areas of expertise mentioned is the Lender Finance Group, which provides tailored solutions to non-bank specialty lenders. This group emphasizes reliable execution in areas such as revolving and warehouse lines of...
Bankers remain skeptical of economic outlook ARLINGTON, Va., May 1, 2024 /PRNewswire/ -- Fifty-eight percent of bankers would take action to reduce costs or increase revenue elsewhere even if exempt under a new regulatory proposal to restrict overdraft fees, according to a survey of nearly 500 financial executives released today.In a survey by liquidity management fintech IntraFi, 44% of respondents said if the plan went into effect, they would lower overdraft fees to remain competitive with larger banks, while 35% said they would alter their policies, and 27% said they...
May 1, 2024TORONTO, May 1, 2024 /PRNewswire/ - Franco-Nevada Corporation announced its financial results for the first quarter of 2024, with CEO Paul Brink highlighting the impact of gold prices on the company's performance. Brink stated, "Our diversified portfolio performed well and production for the quarter met expectations. Elevated gold prices translated directly into some of our highest ever margins."During the quarter, the company saw positive developments in its operations, with Brink noting, "Salares Norte commenced production during the quarter and Greenstone...
PayNearMe has recently released a study titled "Consumer Trends Driving the Future of Loan Payments," where they highlighted the significance of customer experience in loan repayment. According to PayNearMe, "challenges in the loan repayment process and poor payment experiences jeopardize customer loyalty and retention for lenders."For more information on the study, gmcgurn@afsamail.org suggests, "You can read more on PayNearMe’s website."
blueharbor bank reported a decrease in net income for the first quarter of 2024 compared to the same period in 2023. The Bank's net income was $1,336,608 and $0.44 per diluted share, a decrease of 36% from the previous year. Despite the decrease, the Bank's total assets saw an increase of $37.9 million, reaching $453.5 million at the end of March 2024.In a statement, Jim Marshall, President and Chief Executive Officer of blueharbor bank, noted, "Our balance sheet growth was acceptable given the cumulative effect rising interest rates are having on the economy. The credit...
VIENNA, VA (May 1, 2024) – Navy Federal Credit Union is showing its appreciation for Active Duty servicemembers, Veterans, and their families by launching a series of celebratory activities and member deals for Military Appreciation Month. The credit union aims to honor those who go above and beyond in their service to the country.Members of Navy Federal can take advantage of exclusive offers throughout May and beyond, including bonuses for new members and special discounts on loans. Mehdi Dinia, vice president of membership at Navy Federal, expressed the credit union's...
Today, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, led by Chairman Andy Barr, is conducting a hearing to scrutinize the merger policies of the Federal Banking Agencies. In his opening remarks, Chairman Barr highlighted the importance of mergers in the financial sector, emphasizing their role in promoting competition and cost savings for consumers. He stated, "Mergers of financial institutions can promote competition and generate cost savings that can then be passed on to consumers in the form of lower interest rates on loans,...
TORONTO, May 1, 2024 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announced its financial results for the first quarter of 2024, showcasing a mix of performance indicators and market insights.The company stated, "We use a number of measures that are not prescribed by IFRS Accounting Standards ('IFRS' or 'GAAP') and as such may not be comparable to similar measures presented by other companies."Regarding earnings, Russel Metals Inc. reported, "Our basic earnings per share of $0.82 for the quarter ended March 31, 2024, was lower than the $1.19 per share recorded in the...
Etsy, Inc. Chief Executive Officer, Josh Silverman, acknowledged the challenges faced in the first quarter of 2024, stating, "Our first quarter performance, while in line with our guidance, was pressured by the challenging environment for consumer discretionary products, which continues to be a headwind to Etsy marketplace growth." Despite these challenges, Silverman expressed optimism about the future, saying, "I'm confident that leaning into our differentiators to make Etsy even more Etsy will help ensure we stand out in the sea of sameness in e-commerce."Chief...
HONG KONG, May 1, 2024 /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company") has reported record-high performance and market share for the first quarter of 2024. The company announced its unaudited financial data, highlighting a strong recovery in Macau following the challenges of the past years.Kenneth Feng, President and Executive Director of MGM China, expressed pride in the company's performance, attributing it to their focus on customer service and continuous innovation. He stated, "Our outstanding performance demonstrates our deep understanding...
On May 1, 2024, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), revealed plans for an upcoming hearing focusing on critical national security and illicit finance issues. The hearing, titled "Mission Critical: Restoring National Security as the Focus of Defense Production Act Reauthorization, Part II," is scheduled to take place at 2:00 PM ET on Wednesday, May 8, 2024, at the 2128 Rayburn House Office Building.According to the announcement, the hearing will delve into key matters concerning national security, illicit finance, and...