Banking

The Stamford, Conn.-based company reported 9% growth in net interest income and 14% growth in loan receivables during the third quarter, attributing the improvements to addition of the PayPal Credit portfolio in early July.

Cash is king when it comes to community events, and event organizers know this; which is why they hire qualified, professional mobile ATM companies to manage the ATMs they have on site, writes Yonas Marcos, president and CEO of Star Financial Services.

The Providence, R.I., company reported a 27% gain in profits thanks partly to a boost in fee income from its purchase of Franklin American Mortgage in August.

Strong net interest income and other factors made up for a drop in investment banking and other noninterest income at the Atlanta bank, which reported double-digit earnings growth.

Governors in Arkansas, Georgia, Oklahoma, Texas and Wisconsin used International Credit Union day as an opportunity to recognize the industry.

The information you need to start your day, from PaymentsSource and around the Web. Today: Pakistan reaches out to fintechs to help with payment project; Wearable tech gets more flexible; Digital pay becomes a major market; Bill and Melinda Gates invest in blockchain as a financial inclusion tool.

The senator wants the Fed to retain its asset cap on Wells Fargo until the CEO is fired; industry groups call on regulators to reconsider or scrap plans to modify Volcker Rule.

Readers react to efforts to improve bank branches, weigh the Consumer Financial Protection Bureau's decision to pull back on enforcing the Military Lending Act, consider efforts to build finetch sandboxes and more.

A shifting C&I landscape, heated competition for deposits and red flags in consumer lending also took center stage in often testy exchanges between bankers and analysts on quarterly earnings calls.

The Wisconsin company expects outstanding loans to decreased from current levels, particularly due to paydowns tied to commercial real estate loans.

The Arkansas company, which has faced criticism over its concentration in commercial real estate, charged off nearly $46 million tied to a pair of properties in the Carolinas.

Credit unions won't have to comply with the controversial rule until at least 2020, but a separate proposal on alternative capital could raise the ire of banking groups.

Financial institutions need to adapt their offerings to meet the preferences of these young consumers or they risk losing ground to fintechs and other nontraditional players.

The Bank Policy Institute said the Current Expected Credit Loss model is a “sea change” from how banks have traditionally set aside reserves.

The firms' profit reports this week showed they're increasingly rushing into the booming market for lending to high-net-worth individuals. So far, it's paying off: Morgan Stanley has tripled those loans in the past five years, while Goldman Sachs is expanding overseas.

The California company reported increases in loans and deposits, along with a wider net interest margin.

Earnings were bolstered by lower taxes and higher asset-servicing fees, but revenue was flat and analysts raised concerns about a shrinking deposit base.

The program will focus on increasing lending to small and medium enterprises in Guatemala, Burkina Faso and Kenya.

The company said it is trying to improve shareholder returns as rising rates cut into its net interest margin.

The New York bank, which reported a 25% increase in third-quarter earnings Thursday, recently began serving digital-asset companies and private equity firms.