Corporate finance

A huge chunk of the profit increase in the second quarter was due to a lower tax rate, but rising net interest margins and loan growth signal that institutions continue to derive revenue from their loan book.

A deceleration in mortgage balances ends CIBC's three-year streak of outpacing Canada's other large lenders on mortgage growth. Royal Bank of Canada said this week that mortgage balances were 5.9% higher than a year earlier.

The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health.

Canadian banks will likely report profit gains of as much as 10% in the third quarter as four rate increases by the Bank of Canada make consumer and commercial loans more profitable.

The president's suggestion that public companies report financial results twice a year instead of quarterly might win nods of approval from CEOs, but it’s unlikely to fly with investors. Still, there’s room for reforms to reporting practices, some backed by prominent bankers.

Legacy tech vendors have traditionally offered decadelong contracts. But given constant change in the industry, small banks today should push for three-year deals, a bank CEO says.

It bothered Jeannie Tarkenton, founder of Funding University, that too many kids from lower-income families didn't graduate because they lacked just a few thousand dollars and couldn't get a loan.

The bank's $7 million over four years toward the initiative is its largest overseas philanthropic commitment.

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO.

A $52 million-asset African-American-owned bank in South Carolina is hoping its efforts can be expanded to help underbanked consumers nationwide.

With Blankfein retiring, the JPM chief will be the last crisis-era big bank CEO still in charge; earnings and big payouts are boosting bank equity prices.

The OCC has simplified language detailing how fintech charter applicants will clear requirements for meeting community needs. The move has some consumer groups worried.

While mass transit has long been seen as a potential catalyst for changing payment habits, it's apps such as Uber, Grab and Lyft that are making the biggest difference in how people pay for transportation.

The charge calls into question the speed of the turnaround under CEO Brian Duperreault; the payout will be the Scottish bank’s first since the financial crisis.

Fannie Mae’s treatment of a reperforming loan package helped drive up earnings by almost 41% to $4.5 billion, delivering a stronger dividend to Treasury ahead of a leadership change.

Square Inc. gave an earnings forecast for the current quarter and year that fell short of analysts’ high expectations, a rare miss for the company and a signal its spending on new products and growth are tempering profit.

The $2.1 billion settlement is likely to be the last of the big toxic mortgage cases from the financial crisis; the move pressures rivals to lower prices.

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.

Merchants looking at third-party fraud services should also for detailed information regarding their modus operandi and results, including the steps they take to protect clients' data, according to Bernardo Lustosa, co-founder and COO of ClearSale.

Small banks are being warned to slow down mobile tool development and check vendor arrangements, as researchers repeatedly find vulnerabilities that can be exploited by cybercriminals.