Retail & Commercial

Remote work trends and high interest rates have substantially reduced the values of U.S. office buildings. A new academic paper estimates the extent of the deterioration, suggesting that there is perhaps more stress ahead for banks than is widely anticipated.

The $225 billion-asset Citizens Financial Group has partnered with the fintech Pinwheel to streamline the process for new account holders to switch the direct deposit of their paychecks from their old banks.

Sen. Elizabeth Warren, D-Mass., and other Senate Democrats urged the Office of the Comptroller of the Currency to rescind regulations or guidance that contradict the way Dodd-Frank says the OCC should deal with state consumer protection rules.

The Fed's Basel endgame draft rule would restrict access to capital and credit on Main Street.

A new Cerulli report suggests that one of banks' best opportunities to grow in the coming years is right under their nose, with a client segment they often ignore.

Across the industry, the pace of branch shutdowns slowed this year. Still, large financial institutions continued to trim their physical footprints, with two super-regional banks taking the most aggressive actions.

The Connecticut bank agreed to pay $350 million to acquire Ametros Financial, a custodian and administrator of medical funds from insurance claim settlements. Some analysts see the deal as a signal that Webster does not plan to sell its health savings account business, which has been the subject of recent speculation.

Banks are perfectly willing to comply with a reasonable data collection standard. The problem is that the Consumer Financial Protection Bureau's final rule makes demands far in excess of what the law requires.

The changes include elevating several recently hired executives while eliminating nearly two dozen jobs and trimming annual operating expenses by $6 million.

Commercial-property sales have come under pressure over the past year as borrowing rates soared and values plummeted. Sellers and borrowers have often struggled to agree on pricing, given uncertainty around where values sit today.