Banking

Stephens Inc. found only 19% of bankers expect deal volume to pick up over the next 12 months. It was the lowest percentage since the firm's surveys started in 2017.

Banks including Wells Fargo, Bank of America and JPMorgan Chase have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year. 

Wells Fargo remains committed to turning itself around following a series of scandals that have plagued the bank since the middle of the last decade, but it will take "several years of work" to satisfy U.S. regulators, Chief Executive Charlie Scharf said.

American Express is on the hunt for software engineers, coders and developers, part of a 1,500-person hiring spree for its sprawling technology arm.

The additional data that will become available as the economy slows should reveal the true strength of the technology companies some banks are working with and that should inform whether more regulation is required.

A new group called MoreThanFair aims to establish the lines between fair and unfair lending, to set best practices for the use of AI in lending and to lessen the stigma of fintech lenders.

After a bruising proxy fight that led to the ouster of the Philadelphia bank's former chairman and CEO Vernon Hill, remaining stakeholders find themselves in disagreement over a potential sale of the the company.

Late penalties on credit cards are set to rise 9% in 2023 under current rules that allow for increases tied to the Consumer Price Index. But Consumer Financial Protection Bureau Director Rohit Chopra says he wants to issue a regulation that could undo that inflation-related exception to limits on fees that banks may charge cardholders.

The $10.7 billion-asset credit union said 42 employees were terminated, primarily in commercial banking and mortgage lending-related positions, after the refi business "dried up."

Credit Suisse is considering reviving the First Boston brand name as the Swiss lender seeks ways to boost the fortunes of its beleaguered investment bank, according to people familiar with the matter.

Verve has offered its pumpkin spice loan since 2014 as part of a full menu of themed products.

The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.

Already the nation's largest Small Business Administration lender by dollar volume, the Wilmington-based bank plans to add more than 200 employees and spend $25 million on a new building.

The $536 million-asset credit union said the investment will "improve lives and close the racial and gender opportunity gaps" in Alabama, Arkansas, Louisiana, Mississippi and Tennessee.

For at least several weeks, Federal Reserve officials have been peppering Goldman management with questions and follow-ups in a process that's continuing, people with knowledge of the matter said.

SCU Federal Credit Union in Brockton, Massachusetts, named Glenn Parsons its new president and CEO. He succeeds James Carlson, who is stepping down after 22 years in the position.

The Consumer Bankers Association and the Center for Responsible Lending said the Consumer Financial Protection Bureau should renew its efforts to level the regulatory playing field between larger bank and nonbank companies that make installment and other kinds of personal loans.