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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The banking industry, which has been contending with deposit outflows, could get a short-term boost from spooked investors. But once the White House and House Republicans reach a deal on raising the debt ceiling, the pressure on deposits may resume, analysts say.
May 25 -
Customers of banks that provide small-dollar loans are still turning to higher-cost lenders, according to a recent survey. The significance of the findings has sparked a debate between the payday lending industry and its critics.
May 21 -
The Los Angeles fintech lender has agreed to refund voluntary payments paid by borrowers in California, Connecticut and the District of Columbia. Voluntary payments for loans have come under scrutiny from consumer advocates and state officials.
May 18 -
The San Francisco bank agreed to a deal with its shareholders after allegedly making misleading statements about its progress in resolving regulatory problems. The agreement is the second-largest bank class-action settlement in history.
May 16 -
Balances reached nearly $1 trillion at the end of the first quarter, up 17% from a year earlier. The increase reflects higher spending by well-off consumers on travel and entertainment, as well as the pressure that lower-income households are facing from inflation and higher interest rates.
May 15 -
Silicon Valley Bank's failure in early March kicked off a period of turmoil unlike anything the U.S. banking industry has been through since 2008 and 2009. Here's a look back at the key events.
May 14 -
Delinquency rates in credit cards, auto and personal loans are effectively back to normal after three years of unusually strong credit performance. Industry executives say the current situation is easily manageable, but they do anticipate that key metrics will continue to worsen.
May 11 -
The Federal Reserve's survey of senior loan officers is being closely watched since it follows the recent turmoil in the banking industry, which has prompted concerns that a pullback in bank lending could slow economic growth.
May 8 -
The Federal Reserve took action against a small bank in southern Illinois whose exposures to interest rate changes left it with negative equity last year. The enforcement action comes as regulators review their oversight practices following Silicon Valley Bank's failure.
May 5 -
Liberty Bank, an $11.6 million-asset lender in Salt Lake City, is the first FDIC-supervised bank in six years to be hit with the lowest Community Reinvestment Act rating possible twice in a row. Regulators identified an unspecified "illegal credit practice" during their review of the bank's performance.
May 4
