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Yet the Detroit company's stock fell more than 8% after its earnings report, indicating the market "seems more tentative" than Ally about the credit outlook, one analyst said.

The Federal Reserve sounded a note of caution on the U.S. economy, which expanded "modestly" through early October with slowing activity raising recession concerns amid some indications of easing inflationary pressure.

Profits, revenue and net interest income fell short of expectations for the Buffalo, New York, company. It stashed away $50 million of reserves, pointing to worsening forecasts for the global economy and growth in its consumer portfolio.

A Wisconsin taxpayers group asked the U.S. Supreme Court to block President Biden's student-loan relief plan from taking effect, accusing him of usurping the power of Congress and costing taxpayers potentially more than $1 trillion.

Sixteen bank members of the Alloy Labs Alliance have come up with a set of rules for banking as a service, and who is responsible for what.

Silvergate Capital shares slumped 23% after the cryptocurrency-focused bank's third-quarter results missed consensus estimates and a much-anticipated stablecoin launch was delayed.

JPMorgan Chase has hired a new head of digital assets regulatory policy, less than a month after CEO Jamie Dimon told lawmakers that cryptocurrencies are "decentralized Ponzi schemes."

In global news this week, India adds digital banking centers, NAB embraces tap-to-pay and JPMorgan Chase shakes up its management in the Asia Pacific region.

David Deborde has been named president and chief executive, taking over for his mother, Cheryl, who is retiring.

Citizens Financial said it would pay $67.4 million to buy HV Bancorp, the holding company for Huntingdon Valley Bank, in a bid to expand in Greater Philadelphia.