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Shares in the Dallas bank fell sharply after it disclosed that it expects to lose its contract for the Direct Express program, which would wipe out more than $3 billion in non-interest bearing deposits. Comerica's involvement with the Treasury Department's prepaid card program has been marred by controversy.
July 19
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Customer reports of technical issues with many U.S. banks have spiked as a buggy software update from CrowdStrike disrupts multiple sectors.
July 19
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Lenders and financial institutions should allow consumers to report nontraditional financial activities in an effort to adopt and validate newer, more inclusive credit scoring models.
July 19
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The financial institution has focused on boosting revenue from a segment that has struggled due to the impacts of the pandemic and high inflation.
July 19
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Indirect auto loan originations at the Ohio-based bank rose by 31% from the first quarter. Huntington sees the business as an opportunity at a time when numerous other banks have been pulling back.
July 19
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The week of the Republican National Convention brought with it some of the biggest political moments the country has seen for decades, some of which center on the rise of economic populism in the Republican party. Here's some of the biggest moments that matter for bankers.
July 18
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The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.
July 18
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The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau's plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.
July 18
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The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.
July 18
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The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.
July 18
