Corporate governance

The Illinois company is smaller than other banks that have done away with the charges, but it's been substantially less reliant on overdraft revenue than some depositories. Wintrust executives explained the decision as a response to technological changes in consumer banking.

The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah.

While Goldman Sachs is still pushing to make its expansion into consumer lending profitable, the bank is also weighing strategic alternatives, CEO David Solomon says. The dueling options reflect the problems that Wall Street giant faces in Main Street banking.

The Columbus, Ohio, bank hopes both to reduce costs and increase revenue by consolidating three segments into a single unit. Huntington is particularly focused on building out its wealth management business.

Domestic banks borrowed $7.2 billion from the short-term lending facility in the third quarter of 2022, the highest level in almost two years. Banks with assets of $3 billion or less drove the increase.

The San Francisco bank entered into a multiyear partnership with Choice Hotels, which operates brands such as Radisson, Comfort and Econo Lodge. The company had previously partnered on its credit cards with Barclays.

The two banks are now targeting May 27, three months later than their previous goal. The transaction, which would create a top-six U.S. bank by asset size, was originally expected to be completed last fall.

The agency needs to demonstrate the moral courage necessary to break up unmanageably large banks.

Goldman Sachs, Capital One and New York Community Bank are shrinking their workforces, and other banks are planning to do the same. Whether such reductions become more widespread will depend largely on loan demand in 2023, according to analysts.

Primis Financial in McLean believes its multimillion-dollar investment in a subsidiary that makes online loans to doctors, dentists and veterinarians will begin paying off this year, after build-out costs weighed on the bottom line in 2021 and 2022.

After decades in public markets, the Rothschild dynasty — one of the most storied names in banking — has decided its flagship bank is best in private hands.

Proposals submitted to several of the largest U.S. banks seek stronger commitments on reducing financing for the fossil-fuel industry and 2030 greenhouse gas emission targets.

Toronto-Dominion Bank struck a deal to provide financial content for the immigrant-geared CanadaVisa website, part of its bid to win a greater share of the new Canadians who are an increasingly important source of growth for the country's big lenders.

Corporate-governance and ethics experts offer tips to avoid management wrongdoing at all levels of a bank.

From BNY Mellon to the mutual fund giant Fidelity Investments, BlackRock and Nomura Holdings, members of the Wall Street establishment are planning for a future in digital assets.

Stripe, one of the world's most valuable startups, has hired JPMorgan Chase and Goldman Sachs Group as it explores options for raising liquidity.

The Boston bank reported broad-based increases in loans during the fourth quarter, and said it's upbeat about its forecast for 2023. "I think the reason why we're comfortable is because we haven't changed our credit box at all," said CEO Nitin Mhatre.

Market professionals and day traders are rattled and waiting for the exchange to elaborate on what it publicly called a "manual error" involving its "disaster recovery configuration."

Almost a fifth of U.S. banks are offering savings rates of 2% or more, a huge spike from a year ago, according to new data. Banks are paying more out of fear their customers will flee to competitors offering higher rates.