Finance

Home purchases in markets outside of cities accounted for some of the San Francisco bank's loan growth. Executives believe this will be a long-term trend because a generous supply of inventory in less populated areas will appeal to buyers.

Net charge-offs fell at Citigroup and Wells Fargo, thanks to forbearance and federal stimulus. Leaders of those banks are warning that delinquencies could rise once the benefits of those programs wear off.

The Fed’s recent action capping dividend payments might prove inadequate once the coronavirus crisis really hits banks’ capital.

The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults.

The results show how Wall Street giants such as Citigroup leaned on volatile businesses in the second quarter to counter mounting signs of distress from lending operations.

The country's largest bank said second-quarter profit fell 51% to $4.69 billion, a smaller drop than forecast, as record trading revenue helped counter the biggest loan-loss provision in its history.

With the COVID-19 health pandemic wreaking havoc on jobs, investments, consumer debt and lending, secured credit cards can address a vital need for people who may not have considered the product in the past.

The Federal Reserve's extraordinary effort to keep credit flowing to companies during the COVID-19 pandemic is also shunting money to banks' bottom lines.

The National Credit Union Administration's first-quarter look at credit union performance by state includes several metrics where the industry did not fare well.

Several big bank mergers fell apart after the coronavirus hit. But Bryan Jordan, First Horizon's CEO, said the pandemic validated plans to cut costs and invest more in digital upgrades.