The company’s payments services business has struggled during the pandemic, but executives are counting on commercial clients’ embrace of real-time payments to help fuel the unit’s growth in 2021.

BofA is awash in liquidity, but an uptick in credit card applications and heightened interest from commercial borrowers have executives hopeful that loan demand will soon rebound.

The Charlotte, N.C., company has shuttered 400 branches in the past year and intends to close nearly 500 more by early 2022. It’s also eliminating office space and reducing headcount as it aims to keep quarterly expenses under $3 billion.

The company will exit retail banking in 13 markets across Asia, Europe and elsewhere after a big drop in global consumer banking revenue. However, it far exceeded analysts' earnings estimates from dealmaking for special-purpose acquisition companies and other Wall Street operations.

Bank of America’s traders and investment bankers reaped another windfall, joining their Wall Street rivals in capitalizing on the stock market’s wild ride this year.

It was a rough quarter in retail banking for the bellwether bank, but a pickup in credit and debit card spending and a higher-than-expected release of loan-loss reserves bodes well for JPMorgan — and perhaps the industry as a whole.

Business owners have shown little interest in taking on debt during the pandemic. Will their attitudes change as the economy improves?

Loan growth and wealth management revenue drove a 53% increase in the San Francisco bank's profit from a year earlier.

Net income was boosted by a $1.6 billion release of loan-loss reserves.

Fees from investment banking and larger-than-expected reserve releases more than offset a sharp drop in loan volume.

The Michigan-based institution has positioned itself for additional growth by making it easier to qualify for membership.

Michigan State University Federal Credit Union has doubled in size since 2015, thanks in part to expanding its branch network and field of membership.

The Texas-based institution is the third credit union to be taken over by regulators this year.

The Dunedin, Fla.-based institution reported an 18.8% surge in assets last year, along with substantial growth in commercial lending, thanks in part to the Paycheck Protection Program.

The Arlington-based institution made gains across several metrics in 2020, including loan growth of 22%, driven in part by the mortgage refi boom.

Fees from forgiven Paycheck Protection Program loans are providing a short-term lift, but balance sheets are shrinking and it isn't clear what will drive future growth.

A new report from the regulator shows slower growth in membership and lending, as well as a decline in the number of credit unions reporting profits.

The Honolulu company said the "non-public, fact-finding inquiry" by the Securities and Exchange Commission focuses on its calculations for earnings per share.

Lending slowed, credit allowances mounted and return on assets as well as other performance ratios weakened, according to year-end figures from the credit union regulator.

Citigroup restated fourth-quarter results after writing down a portion of a loan to Revlon it now owns after losing a court battle.