Corporate finance

The amount of money parked at a major Federal Reserve facility climbed to yet another all-time high, surpassing the $2 trillion milestone for the first time, as investors struggled to find places to invest their cash in the short term.  

Click here for an overview of No. 1-10 on American Banker's annual list of the highest-performing banks with less than $2 billion of assets and a full breakdown of all the banks on the roster.

Calls for “reform” in times of high liquidity ignore the scalability of the system, and the need to have it around in times of trouble.

The San Francisco-based online lender originated more than $2 billion in personal loans during the first quarter, a big jump from a year earlier. The surge made up for softness in the company's home loan and student loan businesses.

The CEOs of both Upstart and Oportun said this week that while they will maintain their existing interest rate limits, some higher-risk customers will no longer qualify for their loans as borrowing costs rise.

Properly designed public banks would be safer than private banks while promoting economic growth.

Genesis Financial will use Nova Credit’s bank account data analysis to approve credit to applicants with little or no credit bureau files.

The San Antonio bank is preparing to offer all customers — not just those with direct deposit — a break on overdraft charges. But CEO Phillip Green explained in an interview why he’s not prepared to step away from the fees altogether.

First Citizens BancShares said its $2.2 billion acquisition of CIT Group, closed in the first quarter after months of regulatory delays, is finally coming together.

The recovery for airline and related spending has been robust — and thus far immune to geopolitical and inflationary pressures — according to the card network, following similar reports from Visa and American Express.

Fewer new customers signed up during the first quarter as e-commerce sales momentum slowed and inflation rose, forcing the company to reduce its overall growth expectations for the year.

The country was a large part of the card brand's cross-border digital business, though expansion in other markets and new services will help offset the negative impact, according to CEO Alfred Kelly.

The combination of higher inflation and higher rates has caught up with bank stocks, now on course for their their worst monthly performance in more than two years.

More than two years into the pandemic, banks hit several turning points during the first quarter. On the positive side, commercial loan growth finally materialized, but there were also snags, particularly in fee income.

The Treasury’s latest tax collection may preview how the shrinking of the Federal Reserve’s $9 trillion balance sheet, or quantitative tightening, will unfold for the markets and global liquidity.

Executives at the Alabama bank anticipated that some corporate deposits would start to leave during the first quarter as interest rates rose. Instead, deposits grew to a record $138.7 billion.

The Wisconsin company is the latest bank to plan cutbacks in the fees. Its fee income is projected to fall by about 2% from its level last quarter.

A sell-off of technology stocks this year has helped dissuade firms from going public. But Silicon Valley Bank’s parent company, which counts many tech firms among its clients, says the pullback hasn’t spread to smaller startups and the venture-capital funds that finance them.

Powered by a surge of bookings in March, travel and entertainment card spending at American Express rose 121% in the first quarter. The company also added 3 million accounts.