Finance

The San Francisco bank tallied $2.2 billion in net operating losses, higher than in any quarter since late 2017. The charges offset what otherwise would have been a strong third-quarter performance.

The nation's largest bank by assets cited a weakening economic outlook as one reason it added to its allowance for loan losses for the third straight quarter. But its third-quarter results beat analysts' expectations.

While Citigroup's Wall Street operations wrestle with tough markets, the bank is getting a boost from the little guy: consumers leaning on credit cards during the worst inflation in a generation.

The company generated $17.6 billion in third-quarter net interest income. Expenses also came in lower than analysts expected, driving a profit beat. 

Wells Fargo set aside an additional $2 billion to resolve a variety of legacy regulatory and legal woes as Chief Executive Charlie Scharf continues wrestling with the costly fallout from scandals he was hired to resolve.

The average interest rates that banks pay to commercial clients jumped at the end of the summer, according to survey data. Industry executives are likely to face questions about the outlook for 2023 during upcoming earnings calls.

The American consumer is "in good shape" and spending more this month than a year earlier, even amid inflation, jittery markets and international tensions, according to Bank of America Chief Executive Brian Moynihan.

The crypto custodian Copper Technologies has obtained $196 million in fresh funding this year, as part of an ongoing series C investment in the business.

Behavioral finance is increasingly influencing how wealth managers serve their clients. How is the field evolving, and what are the freshest insights?

During a visit to Buffalo on Friday, New York Federal Reserve President John Williams said the central bank may need to keep cranking up interest rates to gain greater control over high inflation.

The bank's CIO says the emerging technology will let it run market simulations at a much faster pace.

Citigroup's venture capital investing group made its first digital-asset seed investment in a Hong Kong-based digital-asset management firm. 

Citigroup plans to offer automatic-sweep products seven days a week as banks respond to clients' demands for higher interest rates on deposits and faster access to their cash.

Analysts are watching to see if more lenders join the ranks of First Northwest in Washington state and Orrstown Financial Services in Pennsylvania, which laid off staff or closed branches to offset rising wages and other expenses.

Tally Technologies, a startup that automates credit card payments, has tripled its valuation to $855 million in a funding round led by Sway Ventures.

The amount of money that investors are parking at a major Federal Reserve facility climbed to yet another all-time high as funds sought out places to stash short-term cash.

Bank of Nova Scotia shares are on pace for their worst year since 2008 as analysts warn of weakness in the Canadian lender's international business and uncertainty about the shake-up in its leadership.

These 10 large banks posted superior returns between 2019 and 2021.

Most Americans are more indebted than ever, underscoring a persistent and widening wealth divide in the U.S.