Consumer banking
Alex Overstrom will succeed Karen Larrimer, who plans to retire at the end of the year, the Pittsburgh company said.
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Goldman Sachs’ Marcus, Synchrony Financial, American Express and Capital One Financial are among the banks that have recently raised their five-year CD yields. The price competition arrives as the Federal Reserve acts quickly to rein in inflation, spurring expectations that rates will continue to rise.
May 25 -
Seiffert, who succeeded longtime CEO William Wagner, orchestrated the company’s entry into Indiana and the sale of its insurance unit. Northwest reported a record $161.9 million profit in 2021.
May 25
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The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.
May 23 -
Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.
May 23 -
Strong spending trends, combined with a reduction in card repayment rates, contributed to 17% loan growth last month. The data suggests that rising fears of a recession aren’t yet changing consumers’ behavior.
May 19 -
Kinecta Federal and Hawaii State Federal are launching smaller, high-efficiency branches and creatively managing real estate to better meet members where they are as well as cater to a younger demographic.
May 18 -
Perennial No. 1 Oregon Bancorp, which operates as Willamette Valley Bank, boasts strong sources of fee and interest income, sound underwriting and vibrant geographic markets. It’s a formula shared by many on American Banker's list of the 200 highest-performing publicly traded small banks.
May 17 -
Online-only banks that place a premium on personalized customer service receive higher satisfaction ratings, according to a new survey by J.D. Power.
May 16 -
The Federal Reserve’s forceful moves to fight inflation are resetting expectations about how quickly banks will need to start raising their deposit rates.
May 13
