Retail & Commercial

A spike in the bank's noninterest income powered its better-than-expected net income and revenue in the second quarter.

The Republican Freedom Caucus wants to combine the market structure bill with another measure prohibiting the formation of a Central Bank Digital Currency. That move could tank the market structure bill's chances of becoming law, and with it the banking industry's best chances of getting its priorities enacted.

How banks can cater to this desire to prioritize experience spending and support customers to do more of what they love

The OCC, Fed and FDIC issued a letter this week clarifying the rules governing crypto safekeeping, which emphasize proper management of cryptographic keys.

After a strong performance in the second quarter, the regional bank's CEO, Bryan Jordan, talked about the resilience of borrowers in the current economic climate.

CEO Brian Moynihan plans to keep directing some of the bank's excess capital into new market expansions, he said Wednesday. "Organic growth is the reality," given the bank's already dominant U.S. market share, he said.

Executives at the New York bank said that strategic activity has started to pick up over the last month. Morgan Stanley also reported second-quarter revenue and earnings that beat analysts' expectations.

The New York-based company reported big increases in investment banking and trading revenue, and said it might consider a deal to boost its asset and wealth management business.

The Pittsburgh-based bank's average loans increased 2% from the prior quarter, its largest jump since the end of 2022.

The global bank reported solid second-quarter results as executives maintain confidence in the bank's ability to achieve a return on tangible common equity of 10-11% next year. But an analyst said Citi's progress on reducing expenses will hinge on its ability to get freed from various enforcement actions.