The megabank set aside a larger provision for credit losses during the third quarter as delinquency rates in its credit-card business ticked higher. Still, executives argued that the U.S. consumer outlook remains strong.

The prepaid card and digital banking company promoted its chief financial and operating officer, George Gresham, to chief executive.

Goldman Sachs Group's David Solomon is embarking on his third major reorganization in just four years as chief executive, undoing some of the signature moves he made as recently as 2020.

Bank of America reported its highest quarterly net interest income in at least a decade thanks largely to the Federal Reserve's interest rate hikes. Meanwhile, debt traders beat analysts' estimates.

While Citigroup's Wall Street operations wrestle with tough markets, the bank is getting a boost from the little guy: consumers leaning on credit cards during the worst inflation in a generation.

The Southern California branches will be sold to HomeState Bank, a Seattle-based community bank. The Department of Justice required the sale as part of U.S. Bancorp's pending acquisition of MUFG Union Bank.

There were 37 deals announced in the third quarter, well below the 64 announced in the same period of 2021, according to a Raymond James analysis. Uncertainty over the November election is just the latest factor slowing mergers and acquisitions.

The main goal of Frsh is to help people protect their earnings from the fees of check-cashing facilities and predatory loans. 

The American consumer is "in good shape" and spending more this month than a year earlier, even amid inflation, jittery markets and international tensions, according to Bank of America Chief Executive Brian Moynihan.

Postal banking in the U.S. hasn't gotten off the ground, partly because of strong resistance from American banks. But a successful trial offering of affordable consumer loans by Toronto-Dominion and Canada Post, and their plans to take them nationwide, are a reminder that the idea persists.

Sterling Bancorp is suing its founder and former CEO, Scott Seligman, to get him to repay dividends it alleges are tied to his influence over its problematic Advantage Loan program. The lawsuit claims Seligman was so controlling he even used a robot — nicknamed the "Scott Bot" — to surveil employees.

Royal Bank of Canada expects to gain more market share in the U.K. wealth management business in the years ahead, with its technological capabilities key to attracting clients.

Some online banks are offering the highest rate on savings accounts only to new customers. The strategy could suppress deposit costs at a time when the Federal Reserve's aggressive rate increases have begun to put pressure on expenses.

Walden Mutual in New Hampshire is targeting a mid-November opening after winning final approval for its deposit insurance application from the Federal Deposit Insurance Corp.

Prosperity will pay $341.6 million for First Bancshares of Texas and $228.7 million for Lone Star State Bancshares. Both deals are slated to close early next year.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.

Amid fears of a recession, industry observers will be on the lookout for signs of distress in credit cards and auto loans. One analyst said "the positive trends we've been seeing are starting to erode, and the pressure is going to start building."

Using a local beach as a canvas for its billboard — which vanishes as the tide comes in — the bank is drawing attention to how customers' financial choices can affect the environment.

The bank claims it has migrated all traffic from third-party apps and services to its secure API.