Polo Rocha is a Washington D.C.-based reporter who covers consumer finance and national banking trends. He previously covered the Federal Reserve at S&P Global Market Intelligence and state politics at WisPolitics.com. He graduated from the University of Wisconsin-Madison and has a master's in finance degree from Johns Hopkins University.
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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.
July 12 -
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.
June 20 -
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.
June 14 -
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.
June 13 -
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.
June 11 -
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.
June 7 -
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.
June 6 -
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%.
June 2 -
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.
June 1 -
Once it is free to issue new debt, the Treasury Department is expected to quickly replenish its general account at the Fed. The move could lead to a shortage of reserves.
May 30
