Finance

The state's largest banks posted solid third-quarter loan growth and earnings. But Hawaii's tourism-heavy economy is vulnerable to lofty inflation and the threat of a downturn.

Investment is flowing out of stablecoins into assets like U.S. Treasuries in response to prevailing macroeconomic conditions, according to Circle Internet Financial Chief Executive Jeremy Allaire.

In a departure from its decadelong strategy of embedding itself directly in merchants' checkouts — and a bid to add value — PayPal is launching support for Apple Pay and Apple's Tap to Pay.

The interest paid on consumer deposits has barely risen despite the Federal Reserve's aggressive rate hikes, writes Sen. Jack Reed, D-R.I., in letters to seven of the largest U.S. banks including JPMorgan Chase and Wells Fargo.

The fintech plans to use the capital to scale its platform, which uses machine learning to make loan decisions, with a goal of reducing bias in underwriting.

The consumer lending fintech is continuing to branch away from its original student loan refinancing gig to drive revenue and beat analysts' predictions.

The shift in refi behavior — in the wake of multiple Federal Reserve interest rate hikes — helped fuel a loan growth trend that's expected to continue through year-end.

Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

Tom Hayes, the former UBS Group trader convicted in the U.K. over the Libor-rigging scandal, had a criminal indictment against him dismissed by a New York judge.

Some of the U.K.'s biggest high street banks are bracing themselves for trouble.

The San Antonio bank reported higher deposit costs, along with larger deposit volumes, during the third quarter.

The consumer lending fintech held about one-third of its loan originations on its balance sheet and fortified its deposit base this quarter.

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.