President Donald Trump's tariff policies will strain some banks' business customers, as their supply chains will have to be reconfigured. But uncertainty is the real headwind.

The Providence, Rhode Island-based regional bank plans to create a new senior executive role that will focus on corporate strategy, rather than directly replace Johnson as chief experience officer.

The Providence, Rhode Island-based company launched its private bank in 2023 after a spate of bank failures left holes in the market. "It's not like I'm asking anybody to wait for delayed gratification," CEO Bruce Van Saun said Friday.

The availability and visibility of Bank On-certified accounts, which aim to expand banking access, is contributing to a decrease in the percentage of U.S. households that are unbanked, according to bankers and government officials.

The regional bank's earnings were impacted by challenges in its office loan portfolio, though its overall results were a mixed bag, with its nascent private bank showing momentum.

After the bank's 2014 spinoff from Royal Bank of Scotland, its executives worked to shore up weaknesses. Now they're concentrating on how to close the gap with regional banking peers.

For at least the fifth consecutive quarter, the Providence, Rhode Island, company increased its allowance for credit losses on general office loans, which continue to be a problem area for banks.

The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.

Ex-State Street exec joins Citizens Financial's board, payment software firm Toast will cut workers, Visa rolls out enhanced digital wallet tools and more in the weekly banking news roundup.

The Providence, Rhode Island, company has recruited a head of wealth management advisors and a head of private wealth managers as part of a new strategy to reel in high-net worth clients.

Financial institutions, led by the biggest U.S. banks and regional lenders, have dominated high-grade issuance, making up over 60% of the $149 billion that has priced so far this month.

After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.

Visa, Mastercard, SAP, Circle and many other financial firms are launching digital card accounts with an emphasis on B2B clients.

Once the pace of private equity-backed sales of middle-market companies picks up, the Rhode Island-based bank expects to benefit. CEO Bruce Van Saun says that Citizens' recent expansions in private banking and wealth management will provide opportunities to cross-sell to corporate clients.

Executives at Citizens Financial Group and community banks such as Seattle Bank and Citizens Bank of Edmond say there are potential use cases for large language models. Yet they have concerns that impersonal service and likely errors could erode customers' faith in their financial institutions.

Regional banks had a rocky time after three banks failed in 2023. Van Saun discusses his strategy for Citizens with Editor-in-Chief Chana Schoenberger.

When the prices of U.S. goods and services soar, the Federal Reserve tends to raise its benchmark interest rate, and commercial banks are pinched in several fundamental parts of their business.