Corporate finance

The class action is an early test of whether credit unions can hold their vendors liable for the cybersecurity they promise.

Synchrony Financial joined the chorus of banks that were enjoying the healthy credit cycle as consumers maintained discretionary spending despite ongoing affordability concerns and persistent inflation.

Schwab directly or indirectly manages only 2% of the $37 trillion in U.S. wealth that could be in the hands of advisors, according to CEO Rick Wurster. The size of the opportunity means there is no need to compete with the firm's RIA clients.

The capital markets business, loan growth, credit quality and an improved macroeconomic outlook were all factors in the industry's strong second-quarter results.

Banks use artificial intelligence to do many different jobs. At Fifth Third, the technology is supervising the biggest post-merger integration in the bank's history.

Amid warnings that a future slowdown in AI capital spending could pose a systemic threat, executives at Regions Financial said they're preparing the same way they would for any other credit concentration.

By establishing direct connections to clearing networks such as Japan's central bank, the cross-border payment firm avoids intermediaries, feeding its strategy to undercut traditional financial institutions.

The Charlotte, North Carolina-based bank stopped originating marine and recreational vehicle loans during the second quarter. Executives said the change will reduce net interest income in the short term, but deliver higher profitability over the long run.

Banks are posting record profits, benefiting from being in the middle of a hot credit cycle. Everything is going their way. The only question is, how long can it last?

FINRA's annual snapshot shows how the wealth industry is changing, from key business metrics and marketing trends to shifts in registration and a shrinking branch footprint.

The regional bank revealed plans Thursday to close most of its supermarket-based branches and replace about half of them with new, nearby standalone branches. The multiyear transition could attract $20 billion to $30 billion in low-cost deposits, executives said.

State Street executives said Thursday that one of its investment funds was selected as the default investment option for "Trump accounts."

A breakout month by the company's newly acquired investment banking subsidiary, BTIG, added nearly $100 million of revenue during the second quarter.

In its latest 2026 guidance, the Pittsburgh-based bank predicted an increase in income, but also an uptick in expenses. Much like JPMorganChase, which made a similar revision to its forecast this week, PNC views the two trends as inseparable.

"Ultimately, adoption and embedding in a company is going to be the differentiator for many firms on whether or not they're successful with AI," said BNY CEO Robin Vince.

The investment banking giant has a hefty amount of excess capital, some of which is being used to meet client demand. At the same time, the company is open to opportunities to do bolt-on acquisitions, CEO Ted Pick said.

The Buffalo-based company reported its first organic linked-quarter CRE loan growth since 2021, as well as a sharp increase in commercial-and-industrial lending activity.

Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.

The global bank said it's ready to take advantage of opportunities to accelerate investments into its business, with an eye toward achieving longer-term, sustainable growth. Analysts had tough questions about the plans.

The well above-average advisor graduation numbers, paired with Merrill's recruiting efforts, suggest the wirehouse is serious about adding lots of talent.