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Lenders collected an estimated $25 billion in additional interest income last year by raising the average margin on annual percentage rates, or the amount above the prime rate, according to the Consumer Financial Protection Bureau.
February 22
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Retail tycoon Mike Ashley says his lawsuit against Morgan Stanley is in part because the bank acted out of "snobbery."
February 22
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The credit card lender's blockbuster acquisition of Discover is not guaranteed to get across the finish line. But co-founder and CEO Richard Fairbank appears to see the rewards that would come from controlling a payments network as outweighing the potential downside.
February 22
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The American Bankers Association's latest credit conditions indices show that economists at major banks are feeling more confident about commercial lending in 2024 — but they stop far short of a ringing endorsement.
February 21
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The application deadline for this annual ranking is May 10.
February 21
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In implementing Section 1033, the Consumer Financial Protection Bureau is leaving out auto loans, one of the largest sources of consumer debt.
February 21
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The top five banks and thrifts have combined total deposits of more than $7 trillion as of September 30, 2023.
February 21
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The Pittsburgh company says its new president, Michael Lyons, will report to William Demchak, who will continue as chairman and chief executive. Lyons is positioned to become PNC's next CEO someday, observers said.
February 20
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Auto-enrolling its membership for a credit-scoring tool offered by SavvyMoney helped Knoxville TVA Employees Credit Union nearly double approvals across its credit card, personal and auto loan portfolios in early 2023.
February 20
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The Charlotte, North Carolina, company has agreed to sell its remaining 80% stake in its insurance brokerage unit to raise billions of dollars in cash and extra capital. The "wild card" is how Truist will deploy them, one analyst says.
February 20
