The New York bank, which is conducting a search for its next leader, also said it expects to report strong third-quarter earnings.

Spending is up and deferrals are down sharply, signaling that the economy has turned a corner, CEO Brian Moynihan said. The outlook stood in stark contrast to JPMorgan Chase, which set aside more funds to address potential exposure in consumer banking.

The Minneapolis company says the majority of branches earmarked for closing have already been shuttered for months due to the pandemic. Some of the savings will be plowed back into digital expansion.

The Pittsburgh company has reservations about the business model and staying power of online-only banks.

Revenue at each of Goldman Sachs’s four divisions rose from a year earlier, pushing earnings per share to a record that was almost twice as high as analysts predicted.

The company posted a surprise increase in third-quarter expenses as it set aside almost $1 billion for customer remediation and $718 million in restructuring charges.

Third-quarter net income dropped nearly 16% from a year earlier as revenues at the company's consumer unit declined at about the same pace and trading revenue gains were below estimates.

CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

The San Francisco bank reported record loan originations thanks to explosive growth in single-family home loans, and profits beat analysts' expectations.

The banking giant may be sitting pretty with plenty of money reserved for bad loans — or it could have to set aside billions more in coming quarters. It hinges on an ongoing U.S. recovery and the passage of a new stimulus package.

The California-based institution joins a small group of CUs that represent only about 7% of institutions but hold about 70% of industry assets.

Citigroup posted its biggest quarterly profit of the pandemic after reaping another windfall from trading bonds and expressing newfound confidence in the resilience of its loan book.

The company defied expectations by cutting its reserve for loan losses by $569 million, after adding $20 billion to the allowance in the first half.

The company, which recently completed an audit, set aside funds to cover issues tied with a lending program it discontinued last year. The move cleared the way for Sterling to file an overdue annual report with the Securities and Exchange Commission.

Many sectors are concerned about making money in an economic downturn, but those fears are higher in the financial sector, according to a study from Arizent.

Robert D. Ramirez has accepted the top job at the South Florida credit union as it attempts to turn around following a steep decline in earnings and a jump in charge-offs.

Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

A new report from the National Credit Union Administration shows how hard the industry was hit during the second quarter as businesses closed and consumer spending dropped.

Record profits from trading and other capital markets activities helped to offset steep revenue declines in personal and business banking.