Finance

American Express Co.’s quest to be accepted everywhere from the corner bodega to the nail salon down the street is paying off.

Credit unions won't have to comply with the controversial rule until at least 2020, but a separate proposal on alternative capital could raise the ire of banking groups.

Credit unions won't have to comply with the controversial rule until at least 2020, but a forthcoming proposal on alternative capital could raise the ire of banking groups.

Donald Layton, who has run the mortgage giant since 2012, discussed the busy agenda leading up to his departure and says Freddie can serve as a "technical adviser" in GSE reform talks.

The California company reported increases in loans and deposits, along with a wider net interest margin.

Earnings were bolstered by lower taxes and higher asset-servicing fees, but revenue was flat and analysts raised concerns about a shrinking deposit base.

The company said it is trying to improve shareholder returns as rising rates cut into its net interest margin.

The North Carolina company reported slightly lower costs and a stable net interest margin in the third quarter.

The New York bank, which reported a 25% increase in third-quarter earnings Thursday, recently began serving digital-asset companies and private equity firms.

Commercial and industrial lending rose 8% in the third quarter at the Cleveland bank, but other factors drove its double-digit gain in profits as overall loan growth was modest.

The Connecticut company also reported modest loan growth and a greatly improved net interest margin.

The company will pay $42 million for Oak Park River Forest Bancshares.

Banks ask Congress for help with a rule that forces them to estimate loan losses; The network will allow banks to "exchange and verify trade information."

The $286.4 million deal is an important test for Upgrade, which has raised $142 million of equity over the past two years but has yet to turn a profit.

The Portland, Ore, company also benefited from lower expenses and an improved efficiency ratio.

Banks should work to shield some customers who may otherwise be flagged or blocked by AI-powered safeguards, and consider using alternative data to expand services to the underbanked.

Executives are reluctant to pull back on their big investments in technology, arguing they must stay competitive and that they have flexibility in other areas to trim costs if growth begins to stagnate.

Bigger banks appear to be losing C&I share to small and midsize lenders. That's raising questions about whether community banks — known more for commercial real estate lending — have enough expertise to underwrite deals that larger banks avoid.

Total loans fell, but earnings soared thanks to wider margins, a smaller loan provision and fewer legal costs now that the Wilmington Trust probe is settled.

The Minneapolis company, which reported strong profits but 1% loan growth, is hiring middle-market bankers in New York and launching a digital lending platform aimed at small businesses.