Consumer banking
The bank establishes a committee with the express purpose of addressing employee misconduct. But as the problem of unauthorized customer accounts grows, it stops meeting.
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A plan released Wednesday by the Consumer Financial Protection Bureau was more aggressive than anticipated, leading to share price declines at Synchrony Financial, Capital One and Bread Financial. "This skews toward the worst-case scenario," one analyst wrote.
February 1 -
In a reversal from five years ago, six of the eight biggest U.S. banks by branch count now offer the loans, which observers see as safer alternatives to payday loans.
February 1
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The scandal's roots stretch back more than a decade. In a corporate environment that doesn't welcome bad news, problems fester.
February 1 -
The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.
January 31 -
As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door.
January 31 -
Indexes show heightened expectations for a recession and souring loans. But executives are upbeat about middle-market businesses and overall job growth.
January 30 -
Banks need to be cautious about negotiating pre-merger Community Benefit Agreements with nationwide activist groups. The deals carry real reputational hazard.
January 30 -
Members of the American Bankers Association's Economic Advisory Committee expect gross domestic product to stall in 2023. Other surveys show a modest contraction. Lenders say sentiment among their borrowers also points to a slight slowdown.
January 24 -
The declining credit quality included more borrowers with higher credit scores falling behind on their credit card payments. But executives said the increase remains within expectations as it continues seeing "very linear normalization" in credit.
January 23
