Fed Rate Hike Impacts Credit Card Debt and Bank Stocks
TL;DR Summary
Bank stocks saw little change after the Federal Reserve's decision to raise rates, but regional banks led the sector lower. First Republic Bank hired consultants to explore strategic options, including a possible sale or capital infusion. Silicon Valley Bank's former parent firm claimed the FDIC improperly blocked access to $1.9 billion stored in accounts held at Silicon Valley Bridge Bank NA. Charles Schwab's price target was slashed by Barclays, while PacWest Bancorp secured a $1.4 billion credit facility via Apollo Global Management-backed investment firm Atlas SP Partners.
Topics:business#bank-stocks#charles-schwab#federal-reserve#finance#first-republic-bank#pacwest-bancorp
- Bank Stocks: Repairs Continue, Fed Vote A Critical Factor Investor's Business Daily
- Credit card debt is at record high as Fed raises rates again The Associated Press
- Bank Stocks Slump After Fed Raises Rates The Wall Street Journal
- What the Fed rate increase means for your credit card bill The Washington Post
- Cost of living crisis: Credit card spending hits all time high as experts issue urgent warning Daily Mail
- View Full Coverage on Google News
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