Retail & Commercial

For all the talk of cooperation and partnerships with banks, financial services startups are doing well in underserved niche markets such as actors and musicians.

Traditional banks’ budgets for growth and transformation have been virtually nonexistent since the financial crisis. In the new political and economic climate, traditional banks will gain the resources they need to innovate.

The Birmingham, Ala., company's profit climbed 8% as higher market interest rates and investment securities balances offset lower average loan balances.

The Columbus, Ga., company also announced late Monday that it is buying the credit card assets and brokered deposits of the retailer Cabela's and will then sell the card portfolio to Capital One.

Earnings at the Dallas-based company more than tripled because of a big improvement in credit quality, higher fee income and other factors.

Bank of America beat expectations in several categories, including earnings per share, revenue and net interest margin.

A freewheeling discussion (over beers) about the future of branches with Tom Brown of Second Curve Capital and Dave Martin of BankMechanics at the Trump National Doral hotel in Miami during American Banker’s Retail Banking 2017 conference.

Check imaging reduces the need to handle paper, reduces clearing time and paves the way for mobile deposit and remote capture. However, this new functionality also means financial institutions take on greater risk from electronic acceptance, images in the cloud, and significantly reduced float times.

The fiasco may hold a valuable lesson for fintechs and banks alike about the need for closer integration.

The Trump administration's proposed budget would cut discretionary funding for the Department of Agriculture, which could affect a key agency lending program. Bankers are urging legislators to maintain, or even increase, funding.