The Latest

The Pittsburgh-based superregional bank reported a small quarter-over-quarter advance in net interest income, and it expects loan growth to pick up in the second half of the year. PNC, which announced job cuts last year, also said that it has identified an additional $25 million in cost savings.

The Consumer Financial Protection Bureau's proposal to eliminate medical debts from credit reports is under attack from debt collectors, which claim the rule will drive up litigation costs and drive doctors out of business.

Former President Donald Trump has selected Sen. JD Vance, R-Ohio, a vocal member of the Senate Banking Committee, as his vice presidential candidate in the 2024 presidential election, marking a turn against corporate power in Republican politics.

The Federal Reserve chairman has two years left in his term, which he will serve regardless of who occupies the White House. Powell's term on the Fed Board of Governors expires in 2028.

In recent surveys conducted by Javelin Strategy & Research and Insider Intelligence, consumers gave the bank's app high marks. Many small-seeming improvements explain the ascent.

The government-backed instant processing network has been live only since the summer of 2023, but it's already indirectly boosting usage at an unrelated bank-led rail from The Clearing House.

The basics of good banking — a strong balance sheet, customer service and solid risk analysis — will always be important. But in the future, technological competence will be the difference between the sector's winners and losers.

The investment banking giant said that it will "moderate" its pace of share repurchases as it continues to talk to the Federal Reserve, which recently increased its stress capital buffer from 5.5% to 6.4%.

In this edition of American Banker's news quiz, catch yourself up on the latest news surrounding Project 2025, Patelco Credit Union's cybersecurity breach, fines against Citigroup and Fifth Third and more.

The megabank is working with the digital lending fintech Numerated to automate transferring and analyzing important financial data from borrowers.