Retail & Commercial

The Salt Lake City company benefited during the second quarter from the Federal Reserve’s rate increases, partially offsetting higher expenses and falling noninterest income.

The Federal Reserve’s aggressive tightening is putting some pricing pressure on digital banks that rely on high-yield savings accounts. But the increases are not keeping pace with the central bank’s rate hikes, and the caution may continue in the face of economic uncertainty.

The company says it’s making progress on other parts of its business-model revamp — including a shift to lower-cost deposit sources — while regulators weigh its application to buy Flagstar Bancorp in Troy, Michigan.

Democrats and Republicans on the House Financial Services Committee appeared diametrically opposed on the future of overdraft fees, with GOP lawmakers warning that a crackdown would push consumers toward payday loans.

Energy loan balances at the Oklahoma bank grew 6% from the prior quarter, and unfunded commitments to companies in the sector increased 11%. “This has been a really historic opportunity for BOK Financial Financial to take market share,” said CEO Stacy Kymes.

Silvio Tavares, the credit score company’s relatively new leader, is honing its models to be more inclusive, for instance by taking into account rent payment data and bank account data. 

It's a mistake to assume that potential customers recall long-ago sales interactions. You must refresh their memories.

Indiana-based Old National Bancorp says it has invested $1 billion in floors, collars and other credit hedges in case of a sudden shift in interest rate policy.

"Voluntary changes are not enough to assure that our lowest-income consumers will be protected in the long run," writes the Democratic House member from New York City.

The Consumer Financial Protection Bureau claimed that Hyundai Capital America hurt borrowers by incorrectly reporting they were late on payments.