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In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.
By Jon PriorApril 28 -
The first-of-their-kind measures, urging banks to move more aggressively to curtail new fossil-fuel lending, garnered between 11% and 13% of the vote at Bank of America, Citigroup and Wells Fargo. Those totals were less than climate activists had hoped to garner, but high enough to clear certain thresholds for resubmission next year.
By Jon PriorApril 26 -
More than two years into the pandemic, banks hit several turning points during the first quarter. On the positive side, commercial loan growth finally materialized, but there were also snags, particularly in fee income.
By Kevin WackApril 25 -
The Georgia bank warns that the one-two punch of rising inflation and supply-chain issues on its smaller commercial customers makes that asset class “something we would watch” for potential losses.
By Jon PriorApril 21 -
The Dallas bank reported an increase in energy loans for the first time in nearly three years, but executives don’t expect fossil-fuel lending to rebound to its previous highs.
By Jon PriorApril 20 -
The bank has pivoted its commercial real estate operation as the rise of work-from-home arrangements has impacted market values. The only type of office space it's financing is Class-A buildings in major cities.
By Jon PriorApril 19 -
The New York custody banking giant took an eight-cent blow to its first-quarter earnings per share as a result of its retreat from the Russian market. Still, the company’s current estimate of the move’s ongoing impact is slightly smaller than its previous guidance.
By Jon PriorApril 18 -
The Pittsburgh bank had warned that business activity in its capital markets unit was slowing because of economic uncertainty stemming from Russia’s invasion of Ukraine. But its fee income declined by more than the company anticipated in the first quarter, and looming rate hikes from the Fed will no doubt cut into mortgage income further.
By Jon PriorApril 14 -
Mike Roffler, the San Francisco bank’s incoming chief executive, says he’s not shifting strategy. During the first quarter, the company leaned on its mortgage business, where customers moved to lock in refinancings before interest rates rose.
By Jon PriorApril 13 -
A new Consumer Financial Protection Bureau lawsuit claims the credit bureau and the ex-leader of a key unit failed to comply with a 2017 order to stop misleading consumers about credit reporting and monitoring services.
By Jon PriorApril 12