MSD Capital, which manages the assets of Michael Dell, and Endicott Management will pay $141 million for a 15% stake in the U.S. unit of Israel's Bank Leumi.
Weak profits and the threat of false claims charges are keeping banks out of the market for loans guaranteed by the Federal Housing Administration and the Department of Veterans Affairs.
Look for banks to boost dividend payouts, expand into new markets, increase their tech spending and, eventually, ramp up their C&I lending. But don't expect much in the way of M&A.
The wave of sexual harassment claims have forced a very public reckoning in certain industries, but financial services firms had largely escaped the spotlight. The departure of a Bank of America executive could signal that the industry has problems lurking behind the scenes.
Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.
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