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High deposit costs and low-yielding assets weighed on the company's net interest income, which fell to its weakest level since the first quarter of 2017. But Key executives predicted that a turnaround is coming soon.
October 19
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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
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Rep. Andy Barr, R-Ky., again pressed the Federal Reserve for economic analysis of capital proposals, while Rep. French Hill, R-Ark., reintroduced a bill that would limit the Fed's ability to extend money to the Consumer Financial Protection Bureau.
October 19
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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
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The Federal Reserve vice chair for supervision says the failure of Silicon Valley Bank showed the shortcomings of the current stress testing regime.
October 19
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Consumers with Discover cards spent less on travel and everyday purchases, but more on entertainment, driving loan growth in the third quarter. The company also benefited from the Fed's enforcement of online debit-routing rules, but these boons couldn't offset investor concerns over its issues with the FDIC and its CEO search.
October 19
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After scrambling to launch bots in the early pandemic, banks including Fifth Third and KeyBank are taking the time to thoughtfully design intelligent digital assistants with better navigation and seamless handoffs to human agents.
October 19
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The Department of Justice alleged that Ameris failed to open a single bank branch or provide home loans in minority neighborhoods in Jacksonville, Florida. Attorney General Merrick Garland said that many similar redlining investigations are currently underway.
October 19
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Genesis and DCG were accused in the suit of trying to conceal spiraling losses. The state said it wants to ban Gemini, Genesis and DCG from the financial investment industry in New York.
October 19
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Delta is trimming the increase in requirements for various status levels and adding access to its airport lounges. But the shift to using cash spent, not miles flown, in calculating rewards remains in place.
October 19
