Credit

Other regional banks are vowing to cut costs, but Huntington Bancshares CEO Steve Steinour says the Columbus, Ohio-based lender is well positioned to "play offense" in 2024.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

Worried about the economy and new Fed rules on capital, the bank wants to hang onto its money just in case, CFO Daryl Bible told investors as he outlined second-quarter earnings.

Charge-offs at the Detroit-based lender rose last quarter, as borrowers had a tougher time keeping up with their car payments. But so far, credit quality is staying within expectations, and company executives don't anticipate that the rest of the year will be much worse.

The Federal Reserve governor said consumer credit delinquency is returning to pre-pandemic levels, indicating a potential softening of economic activity.

It's been a rocky few years for senior housing as the sector recovers from its COVID occupancy drop and its profitability takes a hit. But bankers see long-term opportunities amid an aging U.S. population and say their portfolios are healthy.

The credit bureau is embedding its Experian Boost feature in the new account, which aims to help people strengthen their credit profiles through on-time bill payments.

With US banks facing a fresh wave of capital restrictions, some are searching for ways to trade out of risky loan portfolios and free up their balance sheets. The solution may very well lie with capital-rich lenders in the booming $1.5 trillion private credit market.

The combination of inflation and rising interest rates over the last 18 months has made it more difficult for Americans to stay on top of their loan payments, especially on credit cards and auto loans.

A handful of banks concentrated in the Southeast U.S. are facing elevated charge-offs amid the liquidation of Mountain Express Oil. First Horizon Corp., which led a syndicated loan of more than $200 million to the bankrupt company, expects to take a $70 million hit.