Kristin Broughton

An unusual investment by the Minneapolis company shows how big banks are developing innovative partnerships to deliver financial services in low-income neighborhoods.

An unusual investment by the Minneapolis company shows how big banks are developing innovative partnerships to deliver financial services in low-income neighborhoods.

JPMorgan Chase on Tuesday named Todd Combs, a protégé of and possible successor to Warren Buffett, to its board of directors.

The subprime auto lender Santander Consumer Holdings USA has made two key leadership moves as it faces ongoing accounting problems.

Andy Cecere is widely viewed as the successor to Richard Davis as chief of the Minneapolis bank — Davis has repeatedly backed him in public forums — but Cecere may get several years to prepare for the daunting growth challenges facing banking's next generation of leaders.

Speaking at an investor event Thursday, U.S. Bancorp Chief Executive Richard Davis said he has no plans to court Wells Fargo customers who might be put off by the recent account-related scandal at their bank.

CIT Group in Livingston, N.J., has named HSBC executive Stuart Alderoty as its new general counsel.

Regions Financial in Birmingham, Ala., has lowered its forecast for annual loan growth, citing weak demand for commercial loans.

Banks will report quarterly results in about a month, and big-bank chiefs cautioned that lending is sluggish because businesses have little desire to take on more debt amid economic and political uncertainty.

Comerica in Dallas has sent layoff notices to about 450 employees – nearly half of them in managerial roles – as part of a major cost-cutting initiative.

New credit card accounts at JPMorgan Chase have grown by double digits thanks partly to its embrace of borrowers with lower FICO scores, but it sought to reassure investors that credit quality has suffered only slightly.

CIT Group's likely sale of its aircraft unit would reduce it to just above the threshold for systemically important financial institutions. Some analysts and investors want CEO Ellen Alemany to downsize the commercial lender further.

The slow start to Fifth Third's 3%-down mortgage illustrates some of the logistical challenges with such programs, which are on the rise across the industry.

U.S. acquisitions have buoyed profits at Canada’s biggest banks, whose domestic economy is sluggish and possibly on the verge of a housing crisis. The banks are expected to pursue more M&A in the U.S. if that problem persists.

Months after advocating for a blockbuster sale of Comerica, Hudson Executive Capital has slashed its stake in the company, as chatter about a potential deal has fizzled. Still, the firm is credited with pushing the struggling regional bank to adopt a surprisingly aggressive turnaround plan.

In a belated regulatory filing, Carver Bancorp in New York said its profits in the quarter that ended June 30 fell 8% from a year earlier, to $408,000, due to a double-digit increase in expenses.

Zions Bancorp. in Salt Lake City on Friday named Gary Crittenden, a former chief financial officer at Citigroup, to its board of directors.

Regions Financial has a new chief executive for its insurance business.

Two senior legal executives at CIT Group in Livingston, N.J., are reportedly leaving the company, as it faces a new round of compliance headaches.

The age-old fight over whether earnings forecasts are essential for investors or bad for the economy has new legs, and banks are square in the middle of it.