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The American Bankers Association’s credit conditions index fell sharply, as economists foresaw dampening loan demand. The weaker outlook lines up with major bank CEOs’ increased worries over a possible recession.
June 9
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Despite high inflation and a tight labor market, median compensation at certain banks hasn’t budged much, according to a new report from a left-leaning group. “We can give people a more fair reward for their labor,” one of the co-authors said.
June 9
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The Consumer Financial Protection Bureau ended the first “no action letter” agreement with a fintech that had provided immunity from regulatory actions.
June 8
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Young community banks are using a range of options for digital banking platforms.
June 8
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The Alabama bank hopes that its new InvestPath platform, which combines automation and personal interaction, will attract first-time investors.
June 8
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Ray Skinner, who was most recently chief executive of Town & Country Bank in Missouri, will lead MNB Holdings, which owns Mission National Bank.
June 8 -
Some of the riskiest loans given to millennials and Gen Z shoppers for clothes and electronics — and neatly repackaged for investors — are dropping in value.
June 8
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JPMorgan Chase CEO Jamie Dimon and Bank of America Vice Chairman Paul Donofrio were among the high-level executives who last year received multimillion-dollar retention payments. The awards — sometimes known as “golden handcuffs” — were driven by the most competitive job market in recent history.
June 7
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U.S. consumer borrowing surged again in April, following a record jump a month earlier, fueled by rising prices and the continued strength of American consumers.
June 7
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The credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.
June 7
