Consumer banking
The McLean, Virginia, company is starting to “trim around the edges” of its auto portfolio, CEO Richard Fairbank said. That move stands in contrast with Capital One's leaning into its credit card business, which helped push marketing spending above $1 billion.
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The Cincinnati bank plans to lean into its retail expansion in the southeastern U.S. after its deposits fell by $6 billion from the first quarter.
July 21 -
To make up for slow growth on their home turf, some credit unions are looking to other states for new members and loans — a move that rankles banks that see such expansion as overreach.
July 20
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Chief Executive Bruce Van Saun said the Rhode Island bank doesn’t “need to be that greedy” after reporting a 34% rise in net interest income during the second quarter. He laid out plans to trim the bank’s sails in both commercial and consumer lending.
July 19 -
Bank of America officials say the boost to loan income from rising rates combined with its overhaul of its loan book since the financial crisis will help it weather any potential economic challenges ahead. Analysts had a lot of questions about the bank’s reasoning.
July 18 -
In a quarter filled with economic and geopolitical uncertainty, the New York investment firm’s digital consumer bank achieved record-high revenues. Executives have said they plan to drive up revenues in that segment to $4 billion by 2024.
July 18 -
Amplify Credit Union in Austin, Texas, started thinking about removing all banking fees two years ago. First, it had to overhaul its online account-opening process.
July 17 -
Like other mortgage lenders, the San Francisco megabank has been cutting staff since refinancing volumes started to fall. Additional layoffs are expected over the next couple of quarters, according to the bank’s chief financial officer.
July 15 -
Some scrutinize quarterly reports for details that can help better compete against banks. Others are motivated by schadenfreude.
July 15 -
Credit quality at the largest U.S. bank by assets remains strong for now, but a top executive issued a warning about what may lie ahead.
July 14
