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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Goldman Sachs provided more details on its pullback from its once-grand ambitions to expand into consumer finance. Though parts of that strategy will remain, the New York bank will halt its personal loan business and postpone offering a checking account for its wealth management customers.
January 17 -
JPMorgan Chase, Wells Fargo and the Bank of New York Mellon all announced plans to restart or increase their buybacks this year after a sharp drop-off in 2022. Bank of America's CEO also said the company is "back in the game."
January 13 -
Significantly fewer households expected to be in worse shape in the coming year than was the case last summer, according to a December survey. The results are a positive sign for banks at the start of earnings season.
January 9 -
Many in Utqiagvik, Alaska, say they like banking with the country's fourth-largest bank. But they also want more banking options in their town, a reality that rural communities across the United States face.
January 3 -
At the start of 2022, banks sat atop a flood of deposits. But as the year progressed, they faced greater pressure to pay higher rates, and the trends that drove the rapid shift show no signs of abating.
December 28 -
The state's Department of Financial Services issued proposed guidelines on how banks and mortgage lenders should manage climate-related risks. But the guidance was quickly slammed by a trade group representing community banks.
December 21 -
Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.
December 20 -
In a sprawling consent order, the Consumer Financial Protection Bureau order cited mismanagement that extended from auto loans to mortgages and deposit accounts. Wells Fargo CEO Charlie Scharf called the agreement a critical milestone to "put these issues behind us."
December 20 -
Harris, who leads the New York State Department of Financial Services, will join the Financial Stability Oversight Council next year. She will replace Charles Cooper of Texas as the representative of state bank supervisors.
December 14 -
Remote deposit capabilities have vastly improved banking services for residents of villages in western Alaska. But unreliable service means some face difficulties when trying to access their banking apps or make payments.
December 13
