Banking

As President-elect Trump and the new Congress proceed on tax reform, there is one exemption in particular that needs to be closed, shut and buried.

Quarterly profit fell at SunTrust Banks in Atlanta as noninterest expense rose 8.4% and its loan-loss provision increased.

Quarterly profit improved despite a spike in noninterest expenses.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

Treasury Secretary-designate Steven Mnuchin fended off questions about his past investments and foreclosure practices while discussing policy matters at his Senate confirmation hearing; FHA mortgage bond volume is starting to hit worrisome levels.

Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: A lobby for open data; e-commerce expands in Brazil; Wix makes an e-commerce buy; Shopify expands space for developers.

Two lending specialists from the Small Business Administration will join NCUA representatives for the webinar.

Associated Banc-Corp in Green Bay, Wis., reported a sharp increase in profits on an 11% increase in noninterest income and on lower credit costs.

JPMorgan Chase increased Chief Executive Jamie Dimon’s compensation by 3.7% for last year as the bank’s stock advanced 31%.

Jim Van Dyke, CEO of futurion, discusses the correlations between mobile deposit features, the ratings of those features, and app adoption.

CEOs at several regionals have decided to sit on the sidelines so they can digest recent big acquisitions, while others are contemplating going for more deals provided they find lower-risk opportunities.

Initial regulatory steps toward giving credit unions access to alternative sources of capital could add to bankers' concerns that their tax-advantaged rivals are expanding beyond their mission.

The Connecticut bank said a spike in business lending and residential mortgages gave its fourth-quarter earnings a boost.

The Consumer Financial Protection Bureau on Thursday sued TCF National Bank for what the bureau said were deceptive and abusive practices in selling overdraft services.

Labor Department sues JPM over discriminatory pay practices; Krawcheck: key to closing equality gap is financial equality; Rep. Maloney: administration should make gender pay gap a top priority.

As artificial intelligence makes analytics better, the question of who gets to benefit from the intel will come up more. Fintech startup wallet.ai believes customers should be told of propensities that might be hurting them.

Fourth-quarter profits at Wintrust Financial in Rosemont, Ill., climbed 54% to $54.6 million from a year earlier, helped largely by acquisitions and increases in mortgage banking and other fee income.

The $143 billion-asset company has agreed to buy the Retirement Corporation of America, an advisory firm based in Fifth Third’s headquarters city that focuses on the needs of retirees.

Commercial real estate loan growth and the Hudson City acquisition fueled fourth-quarter profit growth at M&T Bank in Buffalo, N.Y.

CUs tap new branch managers, Keesler names new CFO and other credit union professionals in the news.