Acquiring Stellar Bancorp will create the second-largest Texas-headquartered bank, with a No. 5 deposit share in the massive Houston marketplace.
The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit-card interest rates.
Even with the 4 basis point rise in the 30-year fixed over the past two weeks, mortgage rates are still hovering near three-year lows, Freddie Mac said.
The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.
A one-time accounting change will boost the bank's ability to spend on marketing. Traders flinched at the change; analysts called it a buying opportunity.
The auto lender's earnings mostly surpassed expectations in the fourth quarter, but its financial outlook was dampened by its projection of a weaker labor market in 2026.
