PNC fuels expansion into Texas and California to compete with retail banking giants JPMorgan Chase and Bank of America.
Bank of America
The rule requires that 20 of the biggest U.S. lenders be able to rely on stable funding sources, such as long-term debt and customers’ deposits, in the event of a year long liquidity drought.
Wells Fargo, the U.S. banking industry’s largest employer, became the first major lender in the nation to resume job cuts after a number of top firms said they would try to offer workers stability during the Covid-19 pandemic.
GI Partners closes first fund to invest in data centers, as the pandemic underlies the importance of data infrastructure. GM takes stake in Nikola to partner on producing electric pickup trucks. PE news from Silver Lake, Apax and Levine Leichtman. Bofa invests in three Black-owned banks.