Finance

The credit card issuer is still dealing with the effects of a technical glitch in July that affected customer payment rates. But card sales rose in the most recent quarter, and the company is bullish about its positioning in the buy now/pay later market.

Credit Suisse Group reported its fourth straight loss as its investment bank continued to struggle, wealthy clients fled and the lender booked a charge related to a critical overhaul that's been in the making for months.

Eighteen months after the $2.6 billion deal was announced — and five days before the Oct. 31 deadline — New York Community is still waiting for regulatory approval to buy the Michigan bank. On their joint earnings call, the companies wouldn't say where the deal stands.

Strong commodity prices and jumps in energy production fuel the Oklahoma bank's upbeat outlook for continued loan demand, despite inflationary pressures and high interest rates.

Banco Santander said rising costs linked to inflation could leave it short of its efficiency goal for the year while worsening credit quality trends in Brazil were also in focus, even as the lender's earnings beat analysts' expectations.

"Right now, we are seeing nothing but stability," Visa CEO Al Kelly said. But the card network is hedging its bets against a broad downturn by diversifying its opportunities and accelerating new use cases and markets for direct debit payments.

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.

Paydowns at the Arkansas bank, which specializes in commercial real estate lending, fell by $1 billion from the prior quarter as refinancing activity slowed amid soaring interest rates. The result was stronger loan growth.

Amex affirmed its full-year guidance, though it is also monitoring for changes in consumer behavior.

The Cincinnati bank reported strong growth from Dividend Finance, which offers renewable energy loans, and Provide, which lends money to health care professionals. The two units were bright spots as the company's net income dropped by 7.2%.