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While financial markets wobbled after Fitch Ratings reduced the U.S. government's credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poor's in 2011. JPMorgan Chase CEO Jamie Dimon argued that Fitch's action "doesn't really matter that much."

Banks locked in funding by offering more enticing rates on certificates of deposit last quarter, but rebuilding liquidity came at a cost. Competition isn't dying down either, with a couple of credit unions floating 6% CD rates.

The San Francisco company's student loan business suffered from the moratorium on federal borrowers' loans. But executives see a rebound ahead despite high interest rates dampening appetite for refinancing.

Stock markets have shot up as investors grow hopeful that the United States will avoid a recession. But nearly 3 in 4 community bankers are less optimistic that the Fed will achieve its mission of reducing inflation without causing a downturn, a survey from IntraFi found.

Credit metrics are deteriorating as more cardholders fall behind on their payments. But bank CEOs detect few causes for alarm, saying they plan to stay in growth mode since most consumers have stayed current.

Stock prices of banks on this annual list of top performers with at least $50 billion of assets have fallen with the rest of the industry's shares. Executives say their strong fundamentals will win over doubters.

The Phoenix bank was one of the institutions hit hardest in this spring's banking crisis, but deposits rebounded in the second quarter. The bank's earnings results were what "we were all hoping for," one analyst said, sending its stock up 8%.

Some credit unions and banks are taking a step back from the U.S. auto lending market, but Ally CEO Jeffrey Brown said the overall sector remains healthy. Though credit is weakening, the loans that the company is making are bringing large returns.

U.S. regulators are examining how consumers finance health care spending, looking at practices used by Synchrony Financial's CareCredit unit and its competitors. But Synchrony CEO Brian Doubles said he's "very proud" of CareCredit, while downplaying the unit's involvement in the medical sector.

The bank's allowance for losses on commercial real estate loans jumped to $3.6 billion in the second quarter — up 64% from a year earlier. The negative forecast could portend trouble for smaller banks that have bigger exposure to the office sector.

The lawsuit against Prehired involves a relatively new product that consumer advocates say is akin to a student loan — and should be subject to far more protections.

For now, worries about more bank failures have faded. But in the wake of the recent industry turmoil, higher funding costs are expected to weigh on banks' second-quarter results.

Trucking companies saw a boom during COVID as homebound consumers spent big on goods that needed to be shipped. Now comes the bust, with some firms going bankrupt or struggling to pay back their loans.

In a new survey, 38% of treasurers said they want to bump up their allocation to money market funds. Only 27% were looking to increase their bank deposits, highlighting the pressures the industry faces as it strives to hold onto customers' cash.

CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.

The Simplicity credit card from Citigroup has had staying power, suggesting that a card without late fees can be profitable. Its success shows how the U.S. card market might look different under a controversial CFPB proposal to slash those charges.

The measure will prevent banks chartered elsewhere from charging interest rates above Colorado's 36% rate cap. If additional states take the same approach, it could hamper the business model for high-cost consumer lenders that partner with banks.

The Tennessee-based bank was supposed to be acquired this year, but the merger fell apart a month ago. Now executives say that employees are energized as they reengage with clients who are relieved that they won't be switched away from First Horizon's systems.

The state's law does not cap rates at the level preferred by consumer advocates, but it does limit the availability of payday loans that carry annual percentage rates between 36% and 50%.

When the once-ubiquitous interest rate goes away at the end of June, some businesses that have older loans may see a sudden jump in their payments. Banks, lawyers and business leaders are doing last-minute work to avoid that scenario.