Finance

The bank released reserves it no longer needed because credit outperformed. An accounting switch means that line runs close to zero by the fourth quarter.

CEO Enrique Lores acknowledged interest in the payment company, saying that while PayPal remains focused on its revenue-generating plan, it is "open and objective" about the path forward.

So far this year, the volume of closed-end second and home equity line of credit securitizations is near last year's $29 billion, Bank of America Securities said.

Bankers largely agree that there should be reforms, but don't agree on which ones; plus, our second batch of best-performing banks.

In a recent survey of community bank executives, 84% said they agreed with the Federal Reserve that changes are necessary, but the results show a wide range of views about what exactly those changes should be.

The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.

The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.

The Long Island-based regional bank gave investors a mix of good news and bad news on Friday, as it continues its strategic overhaul.

CEO Steve Squeri said the company is adding fewer customer service representatives and is cutting down on a backlog of technology projects.

Some analysts and investors zeroed in Thursday on weaker net interest income guidance. But Huntington executives said they expect strong second-half results.

Two quarters after it merged with Synovus Financial, Pinnacle Financial Partners is keeping up the aggressive recruitment it's known for. Since the start of 2026, the company has hired 124 bankers.

Javier Ferrer, 64, said he is stepping down to focus on his health and spend time with friends and family. He plans to hand the reins to Chief Financial Officer Jorge Garcia.

Bread Financial's point-of-sale installment loans, called Bread Pay, helped drive the lender's credit sales amid a wider earnings beat.

The North Carolina-based bank plans to make additional monthly payments of $500 million-$1 billion to the Federal Deposit Insurance Corp., in order to reduce $35 billion of debt tied to its acquisition of the failed Silicon Valley Bank.

The company, which has conditional approval for a bank charter, hit a $1 billion valuation with fintech exec backing from firms such as Nubank and Revolut.

Like many of its peers, the Chicago-based custody bank posted strong results thanks partly to the downstream effects of a strong initial-public-offering market.

A Securities and Exchange Commission proposal to change reporting requirements for public companies has drawn mixed reactions, with some groups warning that reduced transparency could harm markets.

Following a recent approval by the European Central Bank, Banco Santander's pending acquisition of Webster Financial is expected to close before the end of 2026, executives said. There's been concern that the deal could get tangled up in tensions between the U.S. and Spain.

Capital One Financial executives on Tuesday provided updates on the company's integration of its recent acquisitions of Discover Financial Services and payments-focused fintech Brex.

A Deloitte analysis shows that alternative allocations — to private equity, private credit and other vehicles — in DC plans could grow quickly.