Consumer banking
The two megabanks continue to shrink their branch networks, with BofA planning to close 20 locations and Wells recently shuttering 15. Both banks are also opening new branches in certain markets.
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Goldman Sachs said that its partnerships with Apple and General Motors are hard to exit in the short term. So the investment banking giant is concentrating on making the deals profitable, even as it acknowledges that they may not be a long-term fit.
October 17 -
The longtime Most Powerful Women in Banking honoree looks back on her four-decade career and how the industry has changed for women.
October 15
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Net interest income rose sharply at Wells Fargo and especially JPMorgan Chase last quarter, thanks to lighter-than-expected deposit costs. But questions linger about how long both companies can keep a lid on those expenses and whether smaller competitors can do the same.
October 13 -
Jeffrey Brown, who's been Ally Financial's top executive for nearly nine years, plans to leave the company by early next year. His exit comes as deteriorating credit quality and rising interest rates are biting into Ally's profits.
October 11 -
Blue Ridge Bank in Virginia changed course after its rapid growth in the fintech partnership business landed it in hot water. But the path back to a traditional community banking model is also proving to be bumpy.
October 10 -
Lenders at an American Bankers Association conference this week railed against proposed regulatory requirements they argue could drive up costs, curb credit availability and ultimately hurt borrowers in already fragile economic times.
October 10 -
Truist Bank has agreed to pay licensing fees to USAA for the use of mobile-check-deposit technology that USAA says it invented.
October 10 -
If the industry keeps consolidating at its current rate, there will be roughly 500 banks in 20 years. That will likely mean the loss of competition and choice for customers in some markets.
October 6 -
Following the end of a long moratorium for federal student loan borrowers, monthly payments are expected to total $18 billion. Much of that money will come from checking and savings accounts, which will put more pressure on banks' deposit bases.
October 5
