Polo Rocha is a Mexico-based freelance reporter who worked at American Banker from 2021 to early 2025, covering 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 retail giant has scrapped its credit card partnership with Capital One, its second public spat in recent years with a partner bank. Analysts say it may be a sign that Walmart wants to launch its own credit card on what it hopes will be a financial super-app.
By Polo RochaMay 29 -
Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they'll scale back their ambitions due to investigations over TD's anti-money laundering practices.
By Polo RochaMay 23 -
The payday loan industry is looking to extend its years-long legal fight with the Consumer Financial Protection Bureau. It's planning to ask a federal appeals court to revisit a ruling that upheld a proposed limit on how often payday lenders can try to pull money from their customers' accounts.
By Polo RochaMay 17 -
Investors reacted negatively to New York Community Bancorp's divestiture of a $5 billion loan warehouse portfolio to JPMorgan Chase. The deal has triggered a debate about whether other banks might retreat from lending to nonbank home lenders.
By Polo RochaMay 15 -
The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.
By Polo RochaMay 14 -
Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
By Polo RochaMay 9 -
The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
By Polo RochaMay 3 -
The embattled Long Island bank unveiled a turnaround plan that involves selling noncore assets and diversifying its commercial loan book. But first, it will need to sort through credit-related challenges in its large commercial real estate portfolio.
By Polo RochaMay 1 -
After employees at a handful of Wells Fargo branches voted to unionize, CEO Charlie Scharf said the bank is "committed to bargaining in good faith" but also believes employees are "best served by working directly" with managers.
By Polo RochaApril 30 -
Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
By Polo RochaApril 25 -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
By Polo RochaApril 24 -
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
By Polo RochaApril 18 -
Rising deposit costs have plagued banks in general, and the Tennessee bank had to pay up to bolster liquidity after its failed merger with TD. But First Horizon retained customers in the first quarter while not paying them the special rates they got last year.
By Polo RochaApril 17 -
The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.
By Polo RochaApril 15 -
JPMorgan Chase and Wells Fargo said the battle for deposits isn't over — a reality denting their ability to earn more interest income. Regional banks will likely report similar pains next week.
By Polo RochaApril 12 -
Large U.S. banks have mostly staved off previous shareholder-backed efforts to ensure their CEOs also don't lead their boards. The issue will soon be put to a vote at JPMorgan Chase, Bank of America and Goldman Sachs.
By Polo RochaApril 12 -
Some online banks that offer high-yield savings accounts are making those products a little less high-yielding. Banks are also shortening the duration of new CDs, hoping that anticipated rate cuts by the Fed will enable them to start paying less to consumers.
By Polo RochaApril 9 -
The Long Island bank is trying to come back from a month-long spiral that sunk its stock price some 80%.
By Polo RochaApril 5 -
Letitia James, the New York state attorney general, sued Citigroup and argued it should be liable for fraud cases involving consumer wire transfers. But Citi said the AG's view would bring about a "sea change in banking law."
By Polo RochaApril 3 -
Banking regulators and the Department of Justice must decide whether the blockbuster deal raises antitrust concerns. Looming over their analyses are questions about how broadly or narrowly to define the relevant markets.
By Polo RochaApril 2




















