Jon Prior

Oil and gas companies — flush with cash from rising oil prices — are catching up on debt payments and will seek new credit later in the year as the economy recovers, the Oklahoma company says.

At Comerica and Synovus, higher fees from cards, mortgage banking and other sources helped to offset declines in net interest income.

The leaders of Citizens Financial and Truist predict lending will bounce back in the second half of 2021 as the economy normalizes. But PNC chief Bill Demchak says there are scant signs that businesses are gearing up for a rebound.

The San Antonio company will no longer charge fees on transactions of $100 or less that take checking account balances into negative territory, as long as the customer has a $500 monthly direct deposit set up.

The Charlotte, N.C., company has shuttered 400 branches in the past year and intends to close nearly 500 more by early 2022. It’s also eliminating office space and reducing headcount as it aims to keep quarterly expenses under $3 billion.

Loan growth and wealth management revenue drove a 53% increase in the San Francisco bank's profit from a year earlier.

The company will give retail account holders 24 hours to cancel upcoming payments that would put them in the red. The move addresses customers’ top gripe and will have benefits that offset the lost income, executives say.

Other fintechs’ rush to become banks is being driven by investors seeking “crazy returns," says CEO Dan Price. But he acknowledged that at some point Gravity may need a charter of its own to remain competitive.

In his annual message to investors, the JPMorgan Chase CEO said Big Tech and fintechs are "here to stay" and vowed to be aggressive in taking on these new challengers. He also predicted that the economy would take off this year, but said capital rules prevented banks from doing more to help blunt the impact of the pandemic recession.

The scheduled meeting with members of the House Financial Services comes at a time when large banks are warning of significant losses tied to the derivatives blowup at the hedge fund Archegos Capital.