Banking

In a new survey, 38% of treasurers said they want to bump up their allocation to money market funds. Only 27% were looking to increase their bank deposits, highlighting the pressures the industry faces as it strives to hold onto customers' cash.

For small credit unions, enlisting outside helps accelerate the development of new products — as long as all risks and regulations are properly addressed.

Both regional banks announced weaker guidance for net interest income than they had foreseen two months ago. The disclosures highlighted pressures that figure to take up a lot of the oxygen during second-quarter earnings season.

Total loans from credit unions increased by nearly 18%, driven in part by car dealerships rebuilding their inventory. Headwinds in the mortgage market also fueled interest in home equity loans.

A combination of user-facing apps helped drive scores from 27 to 73. Ingram is one of American Banker's Innovators of the Year.

Recent bank failures point to the need for banks to expand their customer base. That might require stepping outside your comfort zone.

Bank regulators rolled out two joint proposals this month as part of a broader push to address discrimination in home valuations. Advocates see promise, but appraisers fear the changes could artificially inflate valuations.

Bank of America is also planning to expand into Madison, Wisconsin; Boise, Idaho; and Birmingham, Alabama, a company executive said. The goal is to find growth opportunities that don't require operating a large number of branches, the executive indicated.

CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.

Sen. JD Vance, R-Ohio, lambasted the Federal Reserve for increasing the dominance of "too big to fail" banks and failing to rein in systemic risk. He asked whether the Office of the Comptroller of the Currency is a better regulator than the Fed.

State Employees Credit Union in Raleigh, North Carolina, named Leigh Brady as its new chief executive. Outgoing CEO Jim Hayes will run State Department Federal Credit Union in Alexandria, Virginia.

Michelle Moore, head of consumer digital at Wells Fargo, uses three principles to try to create user interfaces customers will come back to.

The Roseville, California institution is expanding into the Bay Area in hopes that it can land new clients and lenders in the wake of two large regional failures there this year.

Young people aging out of foster care don't often have the documents or relationships necessary to open an account. First Tech is making changes to address this all-too-common issue.

Banks that haven't built a plan to implement the Federal Reserve's new real-time payments system still have time to make up lost ground.

New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.

The credit card company says it could raise interest rates, charge new fees and implement penalty-based pricing if late fees get capped at $8. But its ability to maneuver is constrained by a 14-year-old federal law.

Consumer Financial Protection Bureau Director Rohit Chopra warned that "powerful firms" must not dominate the new open banking landscape.