Laura Alix

The moves, which are part of a multiyear strategy, are meant to focus resources in areas where the Spanish banking giant can earn solid returns.

Wages, marketing spending and technology investments are all on the rise. While higher interest rates should eventually help tame inflation, it's not clear how quickly banks will be able to limit their spending increases.

Overdraft fees have been a reliable revenue source for decades, but the charges have fallen into disfavor amid regulatory scrutiny and competition from neobanks. Here's a look at the steps various large and midsize banks are taking to reduce or eliminate the fees, as well as their plans for what's next.

The Federal Reserve, FDIC, OCC and CFPB — increasingly under the leadership of Democratic appointees — are gearing up to regulate cryptocurrency, modernize the Community Reinvestment Act and give consumers more control of their personal data. Here's a look at the policy changes they're mulling.

The merger, which was initially expected to be approved last year, will create one of the 10 largest banks across Illinois, Indiana and Wisconsin.

The North Carolina company will also eliminate nonsufficient-funds fees as it aims to keep pace with larger rivals, including Bank of America, that have revised their overdraft policies.

The Florida company spent nearly $7 million in the fourth quarter on the payouts, which were made in recognition of work done during the pandemic.

The merger of FVCBankcorp and Blue Ridge Bankshares, which has faced criticism from student borrower advocates, would have created a $5 billion-asset bank. The deal was delayed last year after the Office of the Comptroller of the Currency raised concerns.

Executives predict a 5% to 6% bump in lending this year, and they also say they'd be comfortable if up to a third of the Cincinnati company's excess cash migrates away.

The Rhode Island bank estimated that its revised overdraft practices will cost $40 million each year, but it noted that complaints to call centers are down 40% since the policy change.

While money market fee waivers ate into the company’s revenue last quarter, as low interest rates led asset managers to make concessions to customers, executives predict a turnaround in 2022 after the Federal Reserve starts monetary tightening.

Following the recent resignations of the San Francisco bank’s co-CEO and chief operating officer, executives sought to project stability during an earnings call Friday. Employee morale is strong, and finding a leader who’s the right fit is more important than filling the job quickly, they said.

Under an agreement with 40 state attorneys general, the student lender and servicer agreed to cancel debt for over 66,000 borrowers and pay restitution to another 350,000 borrowers placed in certain types of forbearance.

Though the dining sector has been hit hard by COVID-19, restaurateurs have pivoted to drive-thru and curbside options, and rising grocery prices are making eating out comparatively less pricey.

Chief Audit Officer Denise DeMaio will join Truist from MUFG, while Chief Information Security Officer Howard Whyte has experience at Boeing, Goldman Sachs and the FDIC.

The largest U.S. banks have made progress in detailing the risks posed by climate change, but it's clear the industry will have to do more. As federal regulators prepare to impose new obligations, banks are pushing back against calls for more aggressive measures such as capital requirements and increased risk weighting for fossil-fuel lending.

A new group within the Alabama company's equipment finance subsidiary will be led by Jay Cannon, who recently left U.S. Bancorp.

Gaye Erkan was widely seen as the front-runner to succeed founder James Herbert. Following her abrupt departure, the San Francisco bank must decide whether to find its next leader internally or recruit an outsider.

Hafize Gaye Erkan stepped down just weeks after the bank's founder, chairman and co-chief executive, James Herbert, announced a medical leave of absence. The San Francisco company named an interim CEO and said it will conduct a search for Herbert’s successor.

Many previously unbanked consumers are flocking to the banks that provide accounts with no overdraft or debit card fees and minimum opening balances of $25, according to a new report from the St. Louis Fed.