Banking

The biggest laggard among the US banking giants, BofA's investments earn less than its closest rivals, and the stock is the group's worst performer by far.

The promises made by supporters of the Credit Card Competition Act don't account for all of the ways in which it could actually increase the cost of doing business.

The Fed's meteoric increase in the federal funds rate over the last 18 months has left banks holding billions in unproductive investment securities. Helping them would be good for the economy.

First Citizens extends its brand to CIT business lines, Discover launches TV campaign for debit account, Southern Michigan Bancorp announces leadership transition and more in the weekly banking news roundup.

Regulatory scrutiny of bank-fintech partnerships has steadily increased, putting more pressure on companies like Synapse.

If the industry keeps consolidating at its current rate, there will be roughly 500 banks in 20 years. That will likely mean the loss of competition and choice for customers in some markets.

Credit cards and auto loans both showed weakness in the second quarter, leading to an uptick in delinquencies and charge-offs for U.S. credit unions.

Following the end of a long moratorium for federal student loan borrowers, monthly payments are expected to total $18 billion. Much of that money will come from checking and savings accounts, which will put more pressure on banks' deposit bases.

A laser focus on intended outcomes and crystal clear communication helps maintain progress, according to banking experts.

The financial landscape is currently riddled with warning signs that point toward potential liquidity issues for banks.

Chubb's Banks and the Digital Wallet Race: The Embedded Insurance Strategy looks to gauge how fintechs and banks view embedded insurance.

The world's biggest credit union will become the provider of banking services for U.S. armed forces members abroad, stepping into a void left by Bank of America. One credit union trade group is concerned that a potential deposit insurance snafu could threaten the program's viability.

During a speech at a community banking research conference, the Federal Reserve Board governor emphasized the importance of an "evidence-based approach" to regulatory policy.

The cuts are said to be part of a plan to trim headcount by about 300 people — or 3% of overall jobs — across the corporate and investment bank.

The Biden administration's misguided attempt to protect the banking system from itself will reduce credit available to the Americans who need it most.

M&T Bank, Truist Financial and Eastern Bankshares are among the banks that have sold all or part of their insurance subsidiaries over the last year. Though the price is right, analysts warn that when interest rates decline, sellers will be without a key source of fee income.

The Detroit-based firm said the job cuts will occur across divisions and aren't isolated to a single line of business.

Activist investor Abbott Cooper, who has been locked in a battle with management at AmeriServ Financial for more than a year, plans to nominate former Amalgamated Financial head Keith Mestrich in a bid to end the impasse.

U.S. Bancorp and Truist picked literal names for their virtual assistants to avoid confusing customers, while Fifth Third and Regions created characters called "Jeanie" and "Reggie" to put clients at ease. Other companies are trying to split the difference.