It's a fickle industry, given the uncertainty over the Affordable Care Act and government reimbursements, but opportunities in lending to medical practices and device manufacturers make it hard to resist, bankers say.
A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they are sufficiently covered.
The chairman of the Federal Reserve is testifying before Congress this week, where he will likely face tough questions about the agency’s decision to let two banks slide on their exams late last month.
Bank of America has agreed to pay a multimillion-dollar sum to settle a defamation claim brought by former executive Omeed Malik, who was fired by the bank earlier this year, according to a person familiar with the matter.
U.S. financial institutions such as Bank of America, Citigroup, JPMorgan Chase and Goldman Sachs have reported hundreds of millions of dollars of losses stemming from the scandal at retailer Steinhoff International.