News Topic: Tariffs

A spike in loan-loss provisions dragged down first-quarter profits at the Toronto company’s U.S. unit. ... Read full article

The timing couldn’t be worse for ag and energy lenders as well as global banks, which were all counting on the Chinese market to help bolster commercial lending and fee income. ... Read full article

A smiling President Donald Trump thanked some of the biggest U.S. companies for about 10 minutes on Wednesday at the White House, where he was celebrating his trade deal with China. When it came to JPMorgan Chase, he asked for reciprocation. ... Read full article

The country's biggest bank is leaning more on fee income to offset rate pressures, expanding in selected U.S. cities and laying the groundwork for operations in China that CEO Jamie Dimon hopes will endure “for 100 years.” ... Read full article

But some industry watchers are tempering expectations, saying that the language is too vague to know for sure if China is serious about introducing more foreign competition. ... Read full article

So far farm loans are holding up well, but bankers gathered at an industry conference this week said they are growing increasingly concerned that credit quality will weaken if the U.S. and China don’t reach a deal soon. ... Read full article

Amid concern that an economic downturn is approaching, Greg Carmichael said that banks need to focus on credit quality and not worry about expanding their balance sheets. ... Read full article

Sen. Thom Tillis of North Carolina called for the panel to hold a hearing on what he termed the danger that the Federal Reserve will meddle in the 2020 presidential election. ... Read full article

Competition for deposits is tight, the outlook for loan demand is uncertain, and regulatory relief is slow-moving. Yet community bankers are feeling better about the economy than they have in two years, a Promontory Interfinancial Network survey found. ... Read full article

China's decision to stop buying U.S. soybeans and let its currency depreciate raised the prospect of further interest rate cuts. That hurt banks slightly more than the rest of the market on what was a bad day for all equities. ... Read full article

The president said that European Central Bank President Mario Draghi would do a better job overseeing monetary policy in the U.S. than Fed Chairman Jerome Powell. ... Read full article

CEO Greg Carmichael said Wednesday that online-only banks "aren't relationship-based" and that Fifth Third would stick to its plan of attracting new depositors by selectively expanding into new markets. ... Read full article

Lenders are turning to the Farm Service Agency to backstop more loans as their Midwestern customers are beset by flooding in addition to the U.S. trade war with China and volatile crop prices. Can the FSA meet the increased demand? ... Read full article

Despite tension between the U.S. and trading partners, bank are doing booming business in financing cross-border commerce; some Republican lawmakers are getting antsy at the pace of rollbacks for bank regulations, and are pushing regulators for a sense of ... Read full article

Can farmers — and the banks that lend to them — survive Trump's trade war? ... Read full article