Finance

Small banks targeted a handful of GOP senators; bank may lose more than $450 million, mainly due to its Puerto Rico auto finance unit.

The term "shadow banking" is a pejorative, implying insufficient regulatory oversight, said Treasury in a report issued Thursday on asset management.

The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively.

Quarterly results at the Santa Clara, Calif., company got a boost from stronger lending to venture capital and private-equity firms.

That loan growth helped boost the San Antonio bank's profit by 16.5% year over year.

The bank’s 3Q results will make it harder for the CEO to win over some investors skeptical of his strategy to build up the investment bank, and he is already the subject of a whistleblower investigation by regulators.

The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders.

Huntington executives are surprised that chargeoffs are still so low and say they're prepared for things to get worse, yet they remain aggressive in auto and other categories. The juxtaposition is a sign of the times for lenders.

The New Jersey company reported lower third-quarter profit that included severance costs from a two-year program to boost its bottom line.

The accord is the latest development in investigations by governments across the globe into banks’ manipulation of benchmark interest rates.

Harvey slammed the Houston area this summer, but Prosperity Bancshares' profit dropped only slightly in the third quarter, and it described the financial impact as "manageable."

BOK Financial benefited from rising interest rates in the third quarter even as it reported declines in fee income and commercial real estate loan balances.

As Visa continues its long reintegration of Visa Europe, the card brand is tackling the continent's changing regulatory environment — and is sending its top executive overseas to address its needs.

Provision costs surged to $44.5 million from $1.2 million. The company attributed that increase to higher chargeoffs in its taxi book.

The company, which agreed to buy Southwest Bancshares in Mobile, also plans to sell $45 million in stock to help fund the deal.

As more loans go bad across the credit card industry, the Riverwoods, Ill.-based company boosted its provision for loan losses by 51%.

Loan growth drove the New York bank’s 20% increase in third-quarter earnings, and those results don’t include its acquisition of Astoria Financial this month.

Banks are swapping out long-term holdings for short-term securities to manage interest rate risk. But in the process, they are sacrificing yield — and ammo they might need to pay more for deposits to retain customers.

The Michigan company's third-quarter results were down slightly from a year earlier despite increased commercial lending and a wider net interest margin.

Deserve wants to deliver credit cards to students and underbanked young adults through a system that underwrites credit without relying on FICO scores and instead by judging the applicants on their future potential.