Wachovia - Top Line Soft, Chargeoffs at Westcorp Rise
Wachovia Corp. said one of two recent acquisitions it made to boost its consumer operations contributed to a weakening in its credit quality in the third quarter.
Commerce - Deposits Still Growing But Pace Slackens
Commerce Bancorp Inc.'s third-quarter results showed slight erosion in the very customer segment the Cherry Hill, N.J., company has made its hallmark.
FINRA's annual snapshot shows how the wealth industry is changing, from key business metrics and marketing trends to shifts in registration and a shrinking branch footprint.
The regional bank revealed plans Thursday to close most of its supermarket-based branches and replace about half of them with new, nearby standalone branches. The multiyear transition could attract $20 billion to $30 billion in low-cost deposits, executives said.
The bank regulators say they will limit the sending and storage of highly sensitive supervisory information, including by using alternatives such as on-site reviews and requiring notifying banks of data compromises within 72 hours.
State Street executives said Thursday that one of its investment funds was selected as the default investment option for "Trump accounts."
The U.K.-based bank renewed its longest tenured co-brand program, which has been running for more than 20 years, for another decade. The renewal will help the bank expand its consumer banking portfolio.
The central bank failed to prevent critical economic information from falling into the hands of "foreign adversaries," according to a report from its inspector general.
