banking

Donald Trump is considering nominating U.S. Bancorp Chief Executive Officer Richard Davis for the Federal Reserve Board, said people familiar with the matter, as the president prepares to start reshaping the central bank’s approach to monetary policy and Wall Street oversight.

The new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators, is being run by Kevin Bailey, an alum of the OCC and GE Capital.

Not every bank could simultaneously make and entertain acquisition offers like Pacific Continental did, but its story highlights hard questions facing financial institutions in a consolidating industry.

Wall Street banks comment on the president's temporary halt on immigration from Muslim-majority nations; Trump promises to do "a big number" on financial reform act.

The Lake Success, N.Y., company’s bottom line fell 15% on lower net interest income, though its expenses shrank and fee income rose.