Retail & Commercial

Weekly volume — even with the M&T deal — is poised to be one of the largest misses this year, second only to the week of March 13 when Silicon Valley Bank's failure spooked the banking sector.

The Hicksville, New York, company beat analysts' expectations on net interest income, but a pair of souring office loans contributed to a 68% increase in nonperforming loans from the prior quarter.

The student loan servicer said that it's open to settling a high-stakes lawsuit filed by the Consumer Financial Protection Bureau during the Obama administration. It recorded a $45 million charge and said that the range of reasonably possible losses is between $0 and $250 million.

The head of the Consumer Bankers Association takes issue with a recent BankThink article questioning bank CEOs' commitment to promises made in response to the Black Lives Matter movement.

The Oklahoma-based bank is projecting a modest uptick in spending alongside continuing loan growth. Many other banks are tightening the purse strings amid weaker loan demand.

As Chief Executive Officer Christian Sewing doubles down to lower expenses and increase profitability, a new round of cuts is expected to exceed the 800 announced in April.

The Consumer Financial Protection Bureau found that more consumers are being charged late fees, while determining that the average cardholder carried $5,288 in total credit card debt last year.

Speaking on a panel at the Future Investment Initiative summit in Riyadh, Saudi Arabia, the JPMorgan Chase chief voiced doubts that central banks and governments around the world could manage the economic fallout from rising inflation and slowing global growth.

The National Credit Union Administration says it cannot provide deposit insurance for accounts covered under the $165 billion-asset institution's agreement to offer financial services to members of the military serving abroad. The credit union accuses the regulator of undermining its mission.

The $49 billion-asset bank loaded up on deposits in the third quarter, making sure it has enough on hand to fund the loan growth it has forecast for the coming quarters.