Investors have grown concerned that 40-year highs in inflation may take a bite out of consumers and lead to credit troubles, but Synchrony executives say consumers are continuing to manage “incredibly well.”

Goldman Sachs Group, Morgan Stanley, JPMorgan Chase and Citigroup each reported a substantially larger workforce in the second quarter compared with a year earlier. Across the six biggest U.S. banks, the average gain in employment was 5.5% compared with mid-2021.

Octane Lending is among the financial companies that have begun adopting software that the startup FairPlay calls "fairness as a service" as regulators scrutinize banks' artificial intelligence-based loan decisions.

Data as of Mar. 31, 2022. Dollars in thousands.

Net interest income at Bank of America rose 22%, exceeding expectations even in a higher-rate environment. However, net income fell as expenses rose and investment banking revenues fell amid market tumult.

Amplify Credit Union in Austin, Texas, started thinking about removing all banking fees two years ago. First, it had to overhaul its online account-opening process.

Like other mortgage lenders, the San Francisco megabank has been cutting staff since refinancing volumes started to fall. Additional layoffs are expected over the next couple of quarters, according to the bank’s chief financial officer.

Some scrutinize quarterly reports for details that can help better compete against banks. Others are motivated by schadenfreude.

The San Francisco bank reported a 31% increase in loan originations during the second quarter. Analysts are wondering whether it will be able to secure enough low-cost funds to avoid eroding margins.

Credit quality at the largest U.S. bank by assets remains strong for now, but a top executive issued a warning about what may lie ahead.

The boss of the U.K. digital bank Monzo Bank said he’s targeting growth rather than immediate profit during a turbulent time for the fintech industry, after nearly doubling annual revenue while widening losses.

Consumers are feeling less confident about their economic prospects, and investors worry their loan repayments will slow. Those fears have led to large drops in stock prices for consumer finance companies, particularly for those who lend to borrowers with lower credit scores.

While larger lenders retreat from the sector, SouthWest Bank recruited a new team to lend to drillers.

Almost 100% of small-bank executives who responded to a recent IntraFi survey say they expect the U.S. economy to fall into a recession by next year. The top reason why: an overcorrection by the Federal Reserve as the central bank tries to tame inflation.

The state’s Department of Financial Services seeks to prevent banks and credit unions from imposing three kinds of “improper or unfair” fees, including overdraft charges when the consumer’s account shows sufficient funds at the time of transaction.

Totem's digital banking app is the first created by and for Native Americans. The challenger bank will help each of its partner tribes offer uniquely branded apps that provide banking services, distribute government assistance and teach users how to build their credit.

A group of congressional Democrats, led by Rep. Carolyn Maloney of New York and Sen. Elizabeth Warren of Massachusetts, are optimistic that an overdraft bill will be taken up in the House later this month. 

GoHenry, one of many digital banks for kids and teens in the U.S., is based in London but is broadening its European presence with the acquisition of the French fintech Pixpay.

Anne Balcer, formerly of Forbright Bank, will take on the role previously held by Karen Thomas, whose retirement was announced last month.

Klarna Bank, which advertises itself as a way to spread the cost of the latest brands and smartphones, is shelling out loans for milk and gas with cash-strapped customers looking for ways to cover basic necessities.