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The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.
October 11
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The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.
October 11
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Canaccord Genuity Group hires Nadine Ahn, who was fired from Royal Bank of Canada in April; Citigroup establishes a new banking executive team to oversee its commercial and investment banking work under Vis Raghavan; and more in this week's banking news roundup.
October 11
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The Canadian bank's stateside retail operations will be hamstrung by a massive anti-money-laundering settlement. But executives said the company can lean on both its Wall Street business and lines of revenue north of the border.
October 10
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President Joe Biden called on Congress to return to Washington to make sure Small Business Administration loans don't run out after Hurricanes Milton and Helene devastated large swaths of the Southeast.
October 10
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Los Angeles dispute resolution platform Ejudicate was banned by the Consumer Financial Protection Bureau for forcing borrowers into arbitration with an affiliated creditor.
October 10
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Now that earnings season has kicked off, investors will be paying close attention for signs of loan growth and deposit pricing relief, though analysts don't expect improvements to materialize right away.
October 10
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He will succeed Kevin Riley, who previously announced plans to step down this year. Reuter retired last spring after leading FirstBank Holding in Colorado since 2017.
October 10
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First State Bank of Purdy is on the forefront of new technology from Jack Henry & Associates thanks to the decades-long relationship between the bank and Jack Henry himself.
October 9
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The Honolulu-based bank's board continues to recommend selling to Hope Bancorp in Los Angeles, despite a competing offer that includes a higher price tag.
October 9
