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Both regional banks announced weaker guidance for net interest income than they had foreseen two months ago. The disclosures highlighted pressures that figure to take up a lot of the oxygen during second-quarter earnings season.

Total loans from credit unions increased by nearly 18%, driven in part by car dealerships rebuilding their inventory. Headwinds in the mortgage market also fueled interest in home equity loans.

Acting Comptroller of the Currency Michael Hsu said the banking industry has been largely insulated from crypto winter, but added that bank interest in servicing the crypto industry has waned over the same period. 

Earlier this week, Wilson and his team of strategists said in a note that they expect S&P earnings to drop 16%, compared to predictions for a decline of just 2.4% for 2023 from sell-side analysts who have boosted their earnings expectations.

A gifted storyteller, Brittany has a wealth of experience making sense of volumes of data to help business leaders solve real world people problems. She holds a Masters in Industrial Organizational Psychology and an ACC credential from the International Coaching Federation. Currently, Brittany combs through millions of employee datapoints collected through Dayforce, Ceridian's always-on people platform, to create easily digestible and actionable insights to drive quantifiable business value.

Jeffrey Chesner is CEO of CPACredits.com, which was founded in 2020 in order to help aspiring accounting professionals earn the credits required for CPA licensing.

This week in global news: Stripe joins the MACH Alliance, GoCardless downsizes, CBA battles crypto crooks and more.

A combination of user-facing apps helped drive scores from 27 to 73. Ingram is one of American Banker's Innovators of the Year.