Matt Scully

Citizens Financial Group, which held an initial public offering Wednesday, will hire 350 mortgage officers and soon announce a new treasury services head, the bank's chief executive told American Banker.

Two small U.S. banks will begin offering an alternative remittance option. The development may signal a new era of competition in foreign exchange, but some critics see danger.

Nonagency mortgage securitization has fallen well short of forecasts this year, as commercial banks bid up for loans to put on their balance sheets. But the fourth quarter could offer this moribund market a chance at redemption.

Yield-seeking investors have fueled a niche bond business that is financing community banks, through the sale of higher-risk, subordinated debt. It is unclear whether the banks need all that capital.

Wells Fargo and Bank of America and JPMorgan Chase are pressing downstream to compete for commercial and industrial loans, and regional and small banks are feeling the pain more than ever.

Big banks are still avoiding bank M&A, but the reasons are evolving. Plenty are still looking inward, while others are focusing on buying fee businesses. U.S. Bank CEO Richard Davis says he doesn't want to be burdened with an integration when the economy takes off.

After four straight quarters of declines, Citigroup's fixed-income revenue — a major income source for its investment banking arm — is stabilizing, chief financial officer John Gerspach said Monday.

Citigroup's sale of nearly all its remaining Texas branches looks to be the last of its major branch reductions for awhile, as the downsizing campaign has helped enhance revenue prospects and contain costs.

Leaders of large community banks in the Southeast are keen on acquisitions, though their level of interest varies widely. Some, like Home BancShares in Arkansas, are eager to line up the next big deal. Others, including Bank of the Ozarks, seem content to steal lenders and open offices after several years of acquisitions.

New York-regulated banks won't be able to hire PwC for consulting work until 2016 under a penalty handed down by Benjamin Lawsky, the state's banking superintendent. The move could encourage some banks to turn to smaller auditors, who some experts say produce higher quality work and are less expensive.