Finance

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

First Hawaiian and Bank of Hawaii are warning that a global spike in coronavirus cases could stunt the state's momentum and threaten credit quality.

With virus cases in its home state hitting their highest level since February, the San Antonio company declined to release reserves — a route that many banks took to boost their second-quarter profits.

Industry experts weigh in on the future of wealth management.

The legislation would establish a quick process for legacy financial contracts to swap in the Secured Overnight Financing Rate after the London interbank offered rate all but expires in 2023.

The card brand has been pitching itself as a testing ground for central bank digital currencies, a payment portal for stablecoins and — most recently — an accelerator for startups.

The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.

The payments company has completed development of its all-in-one portal. It's an ambitious project, but the first few services — such as bill pay and savings — are relatively straightforward.

Democratic proposals to offer free accounts, restrict overdraft fees and cap interest rates have zero chance of passage. But analysts say lawmakers’ push for products that help consumers is influencing some banks’ decisions to institute reforms on their own.

Flagstar’s main business is lending to nonbank mortgage lenders, and New York Community Bancorp CEO Thomas Cangemi has a plan for tapping those borrowers to drive loan and deposit growth.

Banco Santander SA said it’s on track to beat a key profitability metric for the year with earnings from the U.S. and U.K. fueling the Spanish lender’s resurgence after historic losses linked to the pandemic.

The pandemic created a new expectation that banks should show empathy for customers in crisis. Let’s keep it that way.

The card brand's recent deals to buy Tink and Currencycloud for a combined $3 billion are meant to give it a stronger presence in fast-growing fintech markets.

States have the option of adopting the oversight framework issued by the Conference of State Bank Supervisors, which resembles capital and liquidity plan proposed by the Federal Housing Finance Agency.

States in its footprint have some of the lowest vaccination rates in the country. Another round of shutdowns could further damage industries like hospitality that have already been hit hard by the pandemic, executives said.

CEO Stephen Squeri told analysts a fresh crop of rivals, possibly including Wells Fargo, will be quick to fill the void created by Citi's departure from the high-end market.

The Wisconsin company’s growth initiative, expected to be unveiled by mid-September, will fund both a bigger commitment to online banking products and a push to expand in new and existing markets.

The London interbank offered rate will phase out in a matter of months, and lawmakers have to step in to prevent a legal fiasco. They need to make Secured Overnight Financing Rate the sole fallback benchmark.

Small Business Administration lenders have reported strong quarterly results, but those gains could evaporate later this year. Here’s why.

The goal is to add customers and prop up borrowing until business travel rebounds and consumers burn through their excess cash, CEO Roger Hochschild says.