Banking

The Connecticut-based bank outpaced the industry's muted loan growth last year. CEO John Ciulla said he expects further growth, citing business clients' "decidedly positive" bias.

Equifax agreed to resolve allegations that it failed to conduct proper investigations of consumer disputes, ignored evidence and allowed previously deleted inaccuracies to be reinstated on credit reports. The credit reporting bureau also shared inaccurate credit scores and data about consumers with lenders.

The investment banking giant has been the subject of regulatory probes regarding the way it vets prospective clients. So far, that's not driving away potential clients, executives say.

A midweek rally followed robust bottom-line results from JPMorgan Chase, Wells Fargo, Bank of America and several other large banks. But further interest rate cuts may be needed to sustain momentum.

The bank is "very optimistic" that Trump will appoint financial regulators who are "more balanced" than current agency heads, CFO Daryl Bible said.

The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

Advisors predicted that more banks will do deals and those transactions will be larger in 2025 amid expectations for lighter regulatory scrutiny.

The largest U.S. bank by assets has elevated Jennifer Piepszak to chief operating officer, in preparation for Daniel Pinto's retirement in 2026. But Piepszak is not interested in being CEO, the company said.

Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.

The bank didn't give some existing customers the higher rates it was offering new customers, the agency alleged. The bank said it would fight the suit, which comes just days before the Trump administration takes over the regulator.

The top five banks and thrifts had combined assets of more than $13 trillion as of Sept. 30.

New regulatory changes have created the potential to enable smaller institutions to compete more effectively with their larger peers — if they're willing to seize the opportunity.

The bank said it would acquire Bank of Idaho for $245.4 million in stock. It marked the 12th bank deal for Glacier over the past decade.

The Consumer Financial Protection Bureau's research found that the majority of buy now/pay later users are subprime borrowers, holding high credit card balances and multiple loans, suggesting the offering is riskier to lenders than previously assumed.

Beau Cummins, a longtime Truist executive, stepped into the chief operating officer role in 2023 to help reposition it after years of lagging performance. The bank says he won't be replaced.

The Federal Deposit Insurance Corp. granted nonbank investment firm BlackRock an extra month to come to an agreement with the agency over its substantial stakes in certain FDIC-regulated firms, a matter that Republicans and Democrats have both expressed concern about.

Mutual Federal Bancorp nixed its planned acquisition of Pulaski Savings Bank. It did not disclose a reason for the deal termination.