Laura Alix

Pressure to raise rates on deposits offset strong loan growth at the Salt Lake City company.

Weighing in on interest rate and other uncertainties facing all banks, Citizens Financial CEO Bruce Van Saun emphasized investments in point of sale, digital banking and other initiatives meant to enhance revenue down the road.

While executives at the Buffalo, N.Y., bank said they would take a closer look at spending, especially given the potential for interest rate cuts, they described investments in tech talent as an essential cost of doing business.

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited.

The interim CEO told analysts Tuesday that the company remains committed to hiring an outsider who isn't connected to its scandals of recent years.

As policymakers mull ways to update the 42-year-old Community Reinvestment Act, economists at the San Francisco Fed have put forth a novel proposal.

The move to add dozens of branches, many in low- and moderate-income neighborhoods, continues a strategic shift under retail banking chief Pablo Sanchez.

Judging by day one on social media, you’d think the new Truist brand was a flop. But marketing and branding experts say the name has a lot going for it. What matters most will be how the two banks advocate for the name.