Finance

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

The Lutherville, Md.-based credit union returned $1.25 million to members in the first half of the year, on the heels of a $2M payout last year.

Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.

The South Dakota company warned that it will charge off millions of dollars in loans to dairy and cattle farmers.

CEO William Demchak, encouraged by early returns from new branches in Dallas and Kansas City, Mo., plans to enter even more markets.

Visa Inc. has become the latest investor in ride-hailing giant Go-Jek as the two companies push digital payments across Southeast Asia.

The Texas bank said it was setting aside higher provisions for credit losses as private investments are drying up in a volatile oil and gas market.

The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.

Gains in the retail division helped drive overall profit to a record for a fifth consecutive quarter as mortgage activity surged and provisions for bad loans posted a surprise drop from the first quarter.

Low rates spur more retail lending at big U.S. banks as trading revenue drops; the company’s plan to create its own digital currency runs into more opposition.

While senders prefer mobile devices, recipients remain stubbornly attached to receiving cash.

Total and core deposits fell in the second quarter from three months earlier at the Los Angeles bank as consumers sought higher yields, but CEO Matt Wagner said assuring proper funding for loan growth is a priority.

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited.

The Memphis, Tenn., regional will explore the use of voice assistants as part of its digital banking push.

The new funding comes as the challenger bank inches closer to gaining regulatory approval for a national bank charter.

The likelihood of Fed rate cuts is causing banks to plan for less net interest income, but it would be a mistake for JPMorgan to back off its move into new markets and tech investments, Jamie Dimon says.

The agency's board voted 3-1 on Tuesday to give large banks additional time to comply with new rules that force them to keep better track of insured deposits.

Just a few months after leading a funding round for Berlin-based fintech company Elinvar, Goldman Sachs Group Inc. is backing another startup in the German capital.

Finix, a startup offering tools for businesses to develop their own payments technology, has raised $17.5 million in Series A funding from investors that include Bain Capital and Visa.

The San Francisco company said its loan pipeline would be strong the rest of this year.