The Latest

The Detroit-based lender has been a major beneficiary of the auto market’s growth during the pandemic. Looking ahead, company executives expect demand to be particularly strong among higher-income customers who have little sensitivity to higher car prices and rising interest rates.

Chief Executive Bruce Van Saun said the Rhode Island bank doesn’t “need to be that greedy” after reporting a 34% rise in net interest income during the second quarter. He laid out plans to trim the bank’s sails in both commercial and consumer lending.

The latest expense guidance also stems from rising operating losses at the North Carolina bank. Cost-cutting was a key rationale for the 2019 merger of BB&T and SunTrust, which created Truist.

Jonathan Fink will be associate chief counsel, while Patricia Grady will serve as deputy chief counsel. Fink has been a leading public face on climate risk at the agency in recent months.

In one scheme, criminals impersonated a financial institution and defrauded victims of $3.7 million. The FBI advised banks to warn customers about such scams.

Gov. Kathy Hochul’s latest effort to increase affordable banking access directs New York’s banking regulator to examine total overdraft fees paid in the state, the percentage of fees reduced through negotiations and other related matters.

The Federal Reserve Board will enter next week’s Federal Open Market Committee meeting with a full complement of governors for the first time since 2013.

Until last year, Laurentian Bank of Canada didn't have a mobile app. It shared the task with a credit union-owned vendor that has built a network to help smaller financial institutions work with fintechs.

A sweeping piece of legislation that would overhaul how the cryptocurrency industry is regulated by Washington is unlikely to be voted on this year by the U.S. Senate, according to one of the lawmakers driving the effort.

Alloy, Marqeta and other technology firms drafted policies to assist employees in states that restrict abortion access, even before they had all the answers.