Capital One Financial Corp. said Wednesday that the September net chargeoff rate in its U.S. card portfolio rose 38 basis points from August, to 6.34%.
In August the rate had fallen 12 basis points from July, to 5.96%.
The McLean, Va., credit card issuer and banking company said the September delinquency rate in the portfolio, which includes small-business and installment loans, rose 13 basis points from August, to 4.2%.
The Dallas-based regional bank tapped a client for its copilot capabilities, where employees can message a bot instead of a human to get tech assistance.
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue it's at the expense of regional bank independence.
Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
