Kristin Broughton

Citigroup CEO Michael Corbat stuck up for his embattled retail unit in Mexico, downplaying concerns that protectionist White House policies may harm the subsidiary or the overall company's global strategy.

Banks of all stripes are cheering what the Federal Reserve’s accelerated rate increases promise for net interest income, but big banks and small banks have conflicting notions about how they want to price deposits in the coming months.

The sale to Tokyo Century Corp. will help accelerate CIT's transformation into a more traditional small-business and middle-market lender.

A number of small banks have disclosed material weaknesses in loan-loss accounting and other procedures. Reasons vary, but a common thread appears to be that accounting firms are facing pressure to beef up their scrutiny of internal controls in financial services.

KPMG said Webster did not properly document a change in the way it calculates its provision for loan losses. The bank does not expect to restate its results or incur any meaningful increase in costs because of the problem.

Regulators ought to make it easier for smaller institutions to merge, the CEO of the country's largest said Tuesday.

The largest U.S. bank’s yearslong effort to do more business with midsize commercial firms has progressed in fits and starts but never met expectations. More patience will be required, but executives say the payoff could be sooner rather than later.

As part of the closure, the Hong Kong company — whose brand in U.S. banking was closely linked with Mayo — has shut down its widely followed research division.

Though backward-looking, the exam restricts the company from buying banks or opening branches outside the Northeast.

Fifth Third, which is currently barred from buying banks, has announced a pair of nonbank deals in recent months.