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Chief Executive Bruce Van Saun said the Rhode Island bank doesn’t “need to be that greedy” after reporting a 34% rise in net interest income during the second quarter. He laid out plans to trim the bank’s sails in both commercial and consumer lending.
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The latest expense guidance also stems from rising operating losses at the North Carolina bank. Cost-cutting was a key rationale for the 2019 merger of BB&T and SunTrust, which created Truist.
- AB - Policy & Regulation
Jonathan Fink will be associate chief counsel, while Patricia Grady will serve as deputy chief counsel. Fink has been a leading public face on climate risk at the agency in recent months.
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In one scheme, criminals impersonated a financial institution and defrauded victims of $3.7 million. The FBI advised banks to warn customers about such scams.
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Gov. Kathy Hochul’s latest effort to increase affordable banking access directs New York’s banking regulator to examine total overdraft fees paid in the state, the percentage of fees reduced through negotiations and other related matters.
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The Federal Reserve Board will enter next week’s Federal Open Market Committee meeting with a full complement of governors for the first time since 2013.
