Max Reyes
Washington Post
Boston, MA, United States
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Past articles by Max:
The Search for Lessons From Another US Banking Crisis
Over 10 turbulent weeks earlier this year, a string of US banks with combined assets of more than $500 billion collapsed. Their rapid demise, seemingly out of the blue, raised fears of a repeat of the financial system meltdown of 2008. Those fears soon faded. What remained were thorny questions about what had gone wrong, what damage the episode might do to the banking system and the broader… → Read More
Allstate, State Farm stop selling Californians new home insurance
Allstate tells regulators it has stopped selling new home insurance policies in California. State Farm said it's no longer accepting new applications. → Read More
Berkshire Hathaway Reworks Banking Bets Amid Sector Turmoil
(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. reworked its financial-sector bets amid regional bank turmoil, exiting U.S. Bancorp and Bank of New... → Read More
Truist to End Sales and Trading of MBS, Government-Agency Bonds
Truist Financial Corp. plans to stop sales and trading of mortgage-backed securities and government-agency and Small Business Administration bonds by January. → Read More
First Republic shares sink in sign of broadening Silicon Valley Bank contagion
First Republic Bank shares fall 67% at the open despite efforts to reassure investors, amid turmoil from the collapse of Silicon Valley Bank. → Read More
Fintechs’ Lax Oversight Enabled PPP Fraud, Report Says
Financial-technology companies that distributed Paycheck Protection Program loans often employed lax oversight that allowed fraudsters or ineligible individuals to receive relief funded by taxpayers, a congressional report found. → Read More
Dimon Defends Need for Fossil-Fuel Investments to Congress
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said that the US needs to invest in the fossil-fuel industry to reduce greenhouse-gas emissions in the long term and protect economic growth. → Read More
Bank Behind Fintech’s Rise Reels in Billions in Pandemic’s Wake
One of the fastest growing banks in the US is on a mission to rewire the industry. It has also touched some nerves. → Read More
Neobanks Are Struggling to Make Good on Their Lofty Promises
Some offers of high rates and low fees have strings attached. → Read More
PayPal, Aon Partner to Offer Insurance Through Payments Platform
PayPal Holdings Inc. formed a partnership with Aon Plc to offer its small-business customers the ability to shop for and manage their insurance policies using the company’s digital-commerce platform. → Read More
Huntington Bancshares CEO Sees ‘Resiliency’ in Face of Inflation
Huntington Bancshares Inc. Chief Executive Officer Steve Steinour said there’s enough strength in the U.S. economy to allow it to power through the pandemic and inflation. → Read More
AIG Files for IPO of Retirement Business, Renames It Corebridge
Corebridge plans to list its shares on the New York Stock Exchange under the symbol CRBG. → Read More
Ex-U.S. Bancorp Employee Alleges Racist Lending Practices
A Black loan underwriter who said he was fired due to racism alleges that U.S. Bancorp engaged in redlining -- discriminating against people of color when lending. → Read More
Cross River Bank Acquires Ohanian-Backed Fintech Betterfin
Cross River Bank is deepening its small-business offerings with the purchase of Betterfin, a startup backed by Reddit Inc. co-founder Alexis Ohanian. → Read More
Silicon Valley’s Hottest Money Apps Depend on Old-School Banks
Fintechs use conventional lenders for the mechanics of moving cash. → Read More
Dune Is the Sci-Fi Epic Commodities Traders Have Always Wanted
Spice, spice baby. → Read More
Companies Decide the Time Is Right to Offload Pensions to Insurers
The roaring stock market means plans are fully funded, and by yearend the deals may total $30 billion. → Read More
Massive Oil Spill Washes Up on Southern California’s Beaches
(Bloomberg) -- California beaches in Northern Orange County were closed and wetlands contaminated by a huge oil spill caused by a broken pipeline off the... → Read More
Fauci says US is turning the corner on latest COVID-19 surge
The US is turning the corner on the most recent surge in COVID-19 cases and more people need to get vaccinated to keep infections on a declining trend, infectious disease specialist Anthony Fauci said. → Read More
Wall Street's Transformation in Two Decades Since 9/11 Attacks
New York's financial district has been transformed in the 20 years since the attacks of 9/11 → Read More