American Express Co. said users borrowed less money on its cards in February than in the two previous months.
The issuer said the total number of loans were $48.3 billion in February, down 2.4% from January and 6.4% from December.
Amex said the share of loans 30 days past due fell to 2% in February, from 2.1% in January and December.
Earnings per share and net income for the New York megabank both surpassed analysts' estimates in the first quarter, despite the ongoing war in the Middle East and rising inflation.
Bills in Congress, capital rules, GSE reform and credit modernization hold a mix of benefits and risks for Independent Community Banker of America members, Senior Vice President Ron Haynie says.
Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.
The tokenization platform provider, which has a nonbinding agreement with NYSE and is aiming for a public debut, promoted former SEC Trading and Markets Director Brett Redfearn to the role.
Deutsche Bank is raising the base pay of Supervisory Board Chairman Alexander Wynaendts by 21%, Wells Fargo has hired Neil Ghosh as head of chemicals investment banking, Bank of America's Alexandre Bettamio is being considered for chief executive officer of Brazilian stock and derivatives exchange B3 SA, and more in this week's banking news roundup.
The White House Office of Management and Budget will issue paperwork allowing the Treasury Department to disburse congressionally appropriated funds through the Community Development Financial Institutions Fund, breaking an impasse that has stalled funding for months.
