Finance

The Indiana company reported strong growth in profits and loan income, and it hopes its addition of more than two dozen wealth management and commercial banking specialists will help beef up what one analyst called "softer than expected" noninterest income.

Visa and its rivals have seen spending increases cool with inflation soaring to once-in-a-generation levels.

Buoyed by robust lending through the third quarter, Discover Financial Services has tightened lending criteria slightly but expects charge-offs to remain low. However, inflation meant this growth has come at a higher cost in recent quarters.

HSBC Holdings named Georges Elhedery as its new chief financial officer, setting up the bank's former markets boss as a potential front-runner to eventually replace CEO Noel Quinn.

Loans at the Utah bank increased 6% in the third quarter. Executives said a darkening economic forecast could lower that figure.

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.

Congress will eventually turn its attention to the fact that taxpayers are subsidizing payments to large financial institutions.

The addition of investment bank Capstone Partners and the wider geographic footprint that resulted from the acquisition of TCF Financial helped drive a 58% increase in net income during the third quarter.

A big settlement with the Consumer Financial Protection Bureau and recent changes to overdraft policies by the Alabama company helped drive down its third-quarter profits by 34%.

U.S. central bankers said the next phase in their campaign to curb inflation will be to debate how high to raise interest rates and when to slow the pace of increases.