Retail & Commercial

After just 45 days on the job, the Citigroup CEO is jettisoning uncompetitive overseas operations, vowing to ramp up wealth management and touting the long-term importance of the company’s Banamex unit. More moves are on the way, she says.

The San Antonio company will no longer charge fees on transactions of $100 or less that take checking account balances into negative territory, as long as the customer has a $500 monthly direct deposit set up.

BofA is awash in liquidity, but an uptick in credit card applications and heightened interest from commercial borrowers have executives hopeful that loan demand will soon rebound.

The company will exit retail banking in 13 markets across Asia, Europe and elsewhere after a big drop in global consumer banking revenue. However, it far exceeded analysts' earnings estimates from dealmaking for special-purpose acquisition companies and other Wall Street operations.

Rep. Andy Barr, R-Ky., has introduced legislation to make it easier for new community banks to open in areas that are underserved by the banking system.

Investment banker Robert Jackey has left Citigroup to join SVB Financial Group, according to people familiar with the matter, as the parent of Silicon Valley Bank bulks up its health care advisory unit.

Bank of America’s traders and investment bankers reaped another windfall, joining their Wall Street rivals in capitalizing on the stock market’s wild ride this year.

It was a rough quarter in retail banking for the bellwether bank, but a pickup in credit and debit card spending and a higher-than-expected release of loan-loss reserves bodes well for JPMorgan — and perhaps the industry as a whole.

The Iowa company, which operates a dozen individually branded banks, now has a name that matches its stock symbol.

Business owners have shown little interest in taking on debt during the pandemic. Will their attitudes change as the economy improves?