Commercial banking
JPMorgan Chase, Wells Fargo and TD Auto Finance all see opportunities in providing financing to dealers for inventory, the purchase of competitors and the addition of infrastructure for electric vehicle sales. Two other banks recently said they're exiting the business, which could provide a further opening.
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JPMorgan Chase and Citigroup are funneling more investment into China, even as relations between the countries sour and Washington bans U.S tech investments that could bolster its rival's military capabilities.
August 14 -
After eight years leading one of the nation's most prominent Black banks, Michael Pugh will become chief executive of the Local Initiatives Support Corporation.
August 10
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The Alabama bank is rolling out an online platform for corporate clients to manage billing-related communications with their own customers.
August 8 -
Ybarra, who leads the megabank's sprawling institutional clients group, plans to depart in the first half of next year. Citi says it's assessing how to allocate his responsibilities.
August 7 -
Much of the industry is slimming down, with some banks calling it quits on riskier sectors and selling loans they no longer want. The trend is particularly prominent at regional banks that are preparing to comply with new capital rules.
August 6 -
The Minneapolis company is issuing stock to the Japanese banking giant that previously owned MUFG Union Bank in order to repay part of a $3.5 billion obligation. The move will also boost a key capital ratio, which sagged after the deal was completed, but is expected to cut into U.S. Bancorp's earnings per share.
August 3 -
Median noninterest income at midsize banks rose 7.2% in the second quarter, exceeding expectations. Dallas-based Texas Capital stood out from the pack, reporting a large uptick in fee income thanks largely to its new investment banking platform.
July 31 -
The Hicksville, New York, company says its deposit base is stable and poised for growth four months after its acquisition of the failed Signature Bank, some of whose depositors fled to larger banks. Private bankers — including new hires from another failed bank, First Republic — are trying to win back lost deposits.
July 27 -
Post-merger Banc of California will target "in-market relationship banking" by focusing on treasury management services and loan growth to boost "low-cost" commercial deposits, CEO Jared Wolff said.
July 25
