Economic, regulatory, technological, and competitive pressures have drastically altered the financial services industry, particularly in businesses that touch the American consumer. An analysis by American Banker/ SourceMedia Research shows that the transformation is far from over. Based on surveys of more than 200 financial services executives, this report offers insight into what banks have done to adapt their businesses, and what theyre likely to do next.
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The potential for a global trade war has largely undone the optimism that the industry exhibited at the beginning of the year. Here's a look at three ways that tariffs could negatively impact banks.
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The online consumer lender beat revenue expectations in the first quarter, but its net income was dragged down by larger provisions that the company attributed to tariff "uncertainty."
April 29 -
The card processor came up short on expected profits but hit analysts' estimates on revenue in the second quarter of its fiscal 2025. CEO Ryan McInerney said growth in payments volume, cross-border volume and processed transactions were strong even in the face of shaky economic conditions.
April 29 -
At a House subcommittee hearing, Republicans proposed "tailoring" regulations for community banks while Democrats railed against Trump's tariffs and cuts to the Consumer Financial Protection Bureau.
April 29 -
The bank's chief technology risk officer details the journey the bank has taken over the last six years, and why it set out to get rid of passwords.
April 29 -
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., and House Financial Services Committee ranking member Maxine Waters, D-Calif., urged the National Credit Union Administration's Inspector general to look into President Trump's removal of two board members.
April 29