Deposits

The new consumer deposit product will provide customers a snapshot of the carbon impact of their purchases and offer other incentives to entice the environmentally conscious.

While rival banks reported increases in loans and deposits, thanks largely to their participation in the Paycheck Protection Program, State Street and Bank of New York Mellon saw their balance sheets shrink in the second quarter.

Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use.

Some 60% of Ally’s auto originations in the second quarter were used-vehicle loans, the highest percentage in the company's history.

The National Credit Union Administration's first-quarter look at credit union performance by state includes several metrics where the industry did not fare well.

Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk.

Congress and the FDIC are considering easing limits on banks' holdings of such deposits, a move that could inadvertently lead to more expensive failures.

The Office of the Comptroller of the Currency will use year-end 2019 asset totals in its calculating its next assessment, saying national banks "should not be penalized" for adding emergency loans to their books during the pandemic.

On Mar. 31, 2020. Dollars in thousands.

Consumers are parking their funds at financial institutions as lending slows and interest rates remain near zero, making it difficult for credit unions to deploy these deposits.