Retail & Commercial

The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.

Isabella Guzman, the administrator of the Small Business Administration, skipped a congressional hearing called to discuss the wide disparity in the level of fraud calculated by her staff and a parallel examination conducted by SBA's Office of the Inspector General.

Higher interest rates and larger card balances set the stage for an 11% jump in revenue from U.S. personal banking in the second quarter. That blunted the impact of a 78% surge in write-offs tied to consumer loans.

Executives now see Wells Fargo's NII rising roughly 14% for the full year, more than the 10% jump they had earlier projected. 

JPMorgan Chase's revenue soared to a record in the second quarter, boosted by the Federal Reserve's interest rate hikes and its acquisition of First Republic Bank.

The lawsuit against Prehired involves a relatively new product that consumer advocates say is akin to a student loan — and should be subject to far more protections.

The U.K. entrepreneur died from a rare form of bone cancer, with which he was diagnosed at the start of 2020.

With no settlement in sight, Spencer Savings Bank's case against a group of former depositors it says conspired with Larry Seidman to force a conversion appears headed for a courtroom battle.

The six biggest banks in the U.S. are expected to sell between $28 billion and $32 billion of new bonds after they report quarterly earnings, and regional banks — seeking to raise more capital — could be right behind them.

The business is deposit-taking and offers revolving credit cards as well as loans for small-ticket items. The potential sale could serve as a benchmark for other lenders considering selling their own consumer finance businesses.