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Chris Cumming

Recent Stories From this Author

A Call to Punish Industry Bad Guys from Banking's Elder Statesmen
July 31, 2015 Firing or cutting the pay of fraudulent or reckless bankers will go a lot further toward restoring the reputation of financial...

The Card Settlements Are in More Trouble than You Think
July 30, 2015 Retailers had made repeated efforts to reject two class-action settlements one with Visa and MasterCard, one with Amex to...

Capital One Shares Hammered After Earnings Miss, Layoffs
July 24, 2015 Capital One Financial in McLean, Va., took a beating in the stock market Friday, the day after it reported dismal...

Capital One Badly Misses Estimates as Charges, Loss Provision Rise
July 23, 2015 Capital One Financial reported quarterly profit that fell well short of analysts' forecasts due to a high loan-loss provision,...

Discover Ready to Tiptoe Down the Credit Spectrum
July 23, 2015 Tough competition for loans and ever-stronger credit quality has Discover CEO David Nelms considering a move down the credit...

Discover's Profit Falls as Regulatory Costs Rise
July 22, 2015 Discover Financial Services in Riverwoods, Ill., continued its run of quarterly profit declines in the second quarter, due...

New York Community Beats Estimates, Stays Under SIFI Cutoff
July 22, 2015 New York Community Bancorp in Westbury reported a modest increase in quarterly profit that included asset sales.

Commercial Loan Growth Is Real Now; So Are the Risks
July 21, 2015 Regional banks are reporting strong commercial loan growth as they have for so many quarters. Yet this time it looks like more...

Citizens Financial Reports Retail-Loan Growth, Tighter Margins
July 21, 2015 Citizens Financial Group in Providence, R.I., showed strong consumer loan growth in the second quarter but fell slightly short...

Small Banks Face Regulatory Pressure to Stress Test
July 20, 2015 What asset threshold? Community banks may not be required by law to conduct stress tests, but about one in three have been...

Regional Banks Turn 2Q into a Fee-for-All
July 17, 2015 M&T, PNC, SunTrust and other regionals reported strong fee growth thanks to inroads they have made in investment banking,...

Citi's 'Bad Bank' Is Not So Bad Anymore
July 16, 2015 Citigroup's second-quarter profit got a modest boost from Citi Holdings, a unit set up six years ago as a dumping ground for...

P2P Lender Targeting Millennials Gets $35M in Capital
July 16, 2015 Upstart, a marketplace lender founded by ex-Google employees, has more than doubled its funding after receiving an investment...

A Revenue Problem Lurks Behind B of A's Profitable Quarter
July 15, 2015 Bank of America is trumpeting the doubling of its profits in the second quarter as a payoff from its long cleanup efforts. But...

Two Numbers to Watch in Banks' 2Q Reports
July 10, 2015 Commercial real estate lending and mortgages are banks' main source of hope to beat lukewarm expectations for the earnings...

New Fifth Third CEO Took Road Less Traveled to C-Suite: Through IT
July 8, 2015 Greg Carmichael, a former IT executive, has been tapped to lead Fifth Third Bancorp, a move showing the growing importance of...

What Main Street Banks Have to Fear from Crises in Greece and China
July 7, 2015 The Greek debt crisis and China's stock-market crash may put downward pressure on interest rates and delay the Fed's interest...

Santander Consumer's Chairman and CEO Dundon Resigns
July 2, 2015 The chairman and chief executive of Santander Consumer USA Holdings has resigned, as the subprime auto lender remains under...

What's Behind the Huge Increase in Bank Patent Filings?
July 2, 2015 Banks used to have almost no involvement with the U.S. patent system, but recently some large institutions, like Bank of...

Lessons in Retail Banking from Barbara Yastine
June 25, 2015 Ally Bank has worked to capitalize on what other banks were doing wrong in retail ever since it launched. Now its newly...