Consumer lending

The firm is disbanding its consumer and commercial banking division and will make the Marcus brand one of the new business offerings that can be sold to its wealth management unit’s expanding roster of clients.

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.

The $22.9 billion-asset TCF also highlighted improvements in credit quality in the third quarter as it continued to exit the auto finance business.

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.

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.

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.

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 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.

Bigger banks appear to be losing C&I share to small and midsize lenders. That's raising questions about whether community banks — known more for commercial real estate lending — have enough expertise to underwrite deals that larger banks avoid.

As financial institutions struggle to regain public trust, they need to find more systematic ways to gauge how their work impacts consumers and communities.