Consumer banking
Consumer banking
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The company posted a 58% increase in net income, fueled by increased loan demand from both consumers and businesses, as pandemic fears ease. It expects strong GDP growth through next year.
October 14 -
Wells Fargo beat analysts’ expectations for third-quarter profit, another positive sign for Chief Executive Charlie Scharf’s turnaround efforts, but expenses were higher than anticipated and loans fell.
October 14 -
Bank of America beat analysts’ earnings estimates as fees climbed at the company’s dealmaking unit, boosted by a record-breaking period for mergers and acquisitions.
October 14 -
Spending on cards continued to increase during the third quarter, while loan balances rose slightly and payment rates began to return to more normal levels. A top company executive expressed confidence that loan growth will pick up but said, “It’s going to take time.”
October 13 -
The San Francisco bank reported a 26% increase in its third-quarter earnings, thanks to robust single-family, multifamily and commercial real estate loan activity in New York, Boston and its home city.
October 13 -
Even financial institutions that have updated their practices still don’t hit the basic benchmarks of transparency and fairness.
October 13 -
Silvio Tavares, the former chief executive of the Digital Commerce Alliance, will lead the credit-bureau analytics firm.
October 12 -
Bank of America is giving businesses new ways to transfer money to their customers with the rollout of a system called Recipient Select.
October 12 -
Banks, credit card issuers and debt collectors all supported the Consumer Financial Protection Bureau’s revised regulations. But they face a steep learning curve in complying with the rules, which take effect Nov. 30.
October 11 -
A new state law effectively bans the deposit of state public assistance funds into certain accounts that charge the fees. Supporters say it prevents companies from exploiting a loophole in existing prepaid card rules, while firms that will likely be affected say it limits options for underserved consumers.
October 8 -
Acquiring Watonga, which runs Cornerstone Bank, would raise the buyer's asset size to roughly $1.4 billion.
October 7 -
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The Rhode Island company unveiled a feature that gives depositors extra time to bring their account balances positive. It also plans to launch an overdraft fee-free account early next year.
October 7 -
Democratic Gov. Gavin Newsom signed legislation that establishes a commission to analyze the possibility of offering federally insured, fee-free bank accounts.
October 6 -
Risk managers are generally not seen as innovators, but Houston's team is playing a critical role in supporting the development of groundbreaking new products aimed at improving customers’ financial health.
October 6 -
It took prodding from Husic, Centric's CEO, to convince the bank's lenders to offer Paycheck Protection Program loans to noncustomers. More than 1,200 of those borrowers are now Centric customers.
October 6 -
A leading voice for community banks, Stewart is a past chair of the American Bankers Association and serves on the board of the Seattle branch of the Federal Reserve Bank of San Francisco.
October 6 -
Seven months into her new role, Fraser is leading a corporatewide restructuring aimed at unifying and simplifying business operations, improving profitability and returning more capital to shareholders.
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