Consumer banking
Banks need to be cautious about negotiating pre-merger Community Benefit Agreements with nationwide activist groups. The deals carry real reputational hazard.
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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
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The Wall Street Journal reported the Fed is investigating Goldman Sachs' Marcus division, the company's effort to reach U.S. consumers that has been scaled back. The New York bank's stock fell 2.5% after the news.
January 20 -
Many bank CEOs see the end of work from home coming soon, but other industry leaders are not so sure. Meanwhile, much empty office space lies waiting in limbo.
January 18 -
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 -
Community banks and credit unions have pooled their resources and ideas to develop a bilingual challenger bank, banking-as-a-service playbook, cheaper alternative to Zelle and other innovations.
January 13 -
A month after the National Community Reinvestment Coalition blasted KeyBank's mortgage lending record to Black borrowers, the group said it will send letters to the Federal Reserve and OCC about its findings.
January 12 -
The Cincinnati bank plans to close branches in Ohio, Michigan and Indiana and to open up to 35 locations in 2023.
January 12 -
Ryan Crowley, previously a Citigroup client-experience executive, replaces the unit's former chief operating officer, Pooja Daswani. The company also picked a CEO for its North America business and launched a search for a new wealth management chief.
January 12
