Consumer banking
Consumer banking
-
Washington Trust shares plunged after the Westerly, Rhode Island, company disclosed it booked an office deal in the third quarter, boosting the size of its portfolio while other lenders are pulling back.
October 27 -
The credit card company has been seeing late payments and charge-offs jump following the stellar credit trends of the pandemic. But there were signs last quarter that the picture has started to stabilize.
October 27 -
Umpqua Bank introduces retail banking in Utah, Kansas City CUSO ex, Huntington Bank looks within for new chief DEI officer and more in the weekly banking news roundup.
October 27 -
Britons are pulling more and more cash from bank accounts that don't pay enough interest. It's beginning to hit the U.K.'s biggest lenders where it hurts.
October 27 -
The Indiana bank said it agreed to acquire CapStar Financial in an all-stock deal that would hasten its growth in Tennessee.
October 26 -
CEO Scott Sanborn said it's unclear when demand from banks to buy the fintech's loans will return.
October 26 -
The head of the Consumer Bankers Association takes issue with a recent BankThink article questioning bank CEOs' commitment to promises made in response to the Black Lives Matter movement.
October 26 -
The National Credit Union Administration says it cannot provide deposit insurance for accounts covered under the $165 billion-asset institution's agreement to offer financial services to members of the military serving abroad. The credit union accuses the regulator of undermining its mission.
October 24 -
The credit-card issuer is tightening its lending standards and bracing for the potential effects of a cap on card late fees. Charge-offs are rising, but company executives say that customers are showing surprising strength.
October 24 -
The top five banks and thrifts have combined total deposits of nearly $7.5 trillion.
October 23 -
Other regional banks are vowing to cut costs, but Huntington Bancshares CEO Steve Steinour says the Columbus, Ohio-based lender is well positioned to "play offense" in 2024.
October 20 -
Consumer Financial Protection Bureau Director Rohit Chopra says that a recently proposed data-access rule would provide a competitive edge to small banks over their larger competitors.
October 20 -
JPMorgan Chase pilots Mastercard's open-banking tech for U.S. bill payment; Benson F. "Buzz" Roberts will retire at year-end as CEO of the National Association of Affordable Housing Lenders; and venture capital firms pour funds into bank vendors.
October 20 -
The New York State Department of Financial Services and the Federal Reserve Board penalized Metropolitan Commercial Bank for failing to prevent $300 million in fraud in a prepaid card program. It is the latest example of a bank being sanctioned in connection with rampant fraud during the COVID-19 pandemic.
October 20 -
Executives say the $213 billion-asset company's strong credit performance in the third quarter positions it to pursue loan growth next year.
October 19 -
The Consumer Financial Protection Bureau's proposal would give consumers a legal right to grant third parties access to financial data for a specific use, but firms cannot sell the data or use it for their own benefit — including by feeding it into algorithms or artificial intelligence.
October 19 -
Six weeks after unveiling a broad restructuring plan, the North Carolina bank said it has already taken several steps to lower expenses, and that various cost-reduction initiatives are on parallel paths.
October 19 -
There are good reasons to be skeptical in the face of predictions of a revolution in banking led by generative artificial intelligence.
October 19 -
Charge-offs at the Detroit-based lender rose last quarter, as borrowers had a tougher time keeping up with their car payments. But so far, credit quality is staying within expectations, and company executives don't anticipate that the rest of the year will be much worse.
October 18 -
American Bank of Oklahoma agreed to a consent order in August to settle allegations from the Department of Justice over redlining. However, the institution strenuously objected to references to the Tulsa Race Massacre in the agreement and asked that the language be stricken.
October 18






















