Finance

CEO Ryan McInerney reiterated the company's long-held stance that the Credit Card Competition Act was "very harmful" and "just simply not needed."

The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit card interest rates.

The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.

A one-time accounting change will boost the bank's ability to spend on marketing. Traders flinched at the change; analysts called it a buying opportunity.

The auto lender's earnings mostly surpassed expectations in the fourth quarter, but its financial outlook was dampened by its projection of a weaker labor market in 2026.

Supply chain attacks have doubled since 2021, with professional services firms increasingly acting as "stepping stones" to access bank data.

Federal Reserve Chair Jerome Powell said recent data suggests less tension between the employment and inflation sides of the central bank's dual mandate, reducing the need for an immediate policy change.

As the Federal Open Market Committee announces its near-term interest rate plans Wednesday, market watchers expect the central bank to hold interest rates steady as policymakers seek greater clarity on the health of the economy.

The Tulsa, Oklahoma-based bank expects the pace of loan growth to quicken this year, driven in part by its nine-month-old warehouse lending business.

Merchants have mostly been silent on President Trump's call for a cap on credit-card interest rates. But they'd take a "huge hit" under such a plan, Synchrony CEO Brian Doubles said Tuesday.

The Boston bank, which has been targeted by an activist investor over its M&A strategy, isn't pursuing deals, CEO Denis Sheahan said Friday. Instead, the company is focused on organic growth and share buybacks.

The Raleigh, North Carolina-based bank recently made its first payment on a $35 billion note held by the Federal Deposit Insurance Corp. The note was arranged as part of First Citizens' purchase of the failed Silicon Valley Bank.

Many servicing metrics look weaker amid lower rates although valuations can vary depending on companies' models, operations and portfolio composition.

The McLean, Virginia-based bank plans to close the deal in mid-2026, about a year after it sealed its landmark purchase of Discover Financial Services.

With one Texas acquisition integrated and another deal set to close next month, Huntington Bancshares is projecting double-digit growth in loans and revenue this year.

Three weeks after completing its "merger of equals" with Synovus Financial, Pinnacle Financial Partners said it plans to hire 225 to 250 revenue-generating bankers in 2026 across its newly expanded Southeast footprint.

The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.

Though fourth-quarter net charge-offs reached a level not seen since the financial crisis, the Little Rock, Arkansas-based regional bank is forecasting better results in 2026 and an even stronger recovery in 2027.

The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.

The Minneapolis-based regional saw its fourth-quarter profits jump 23%. Consumer deposits bumped up, while operating expenses remained muted.