Finance

The largest U.S. bank will likely record lower net interest income and higher expenses in 2025 than Wall Street had forecast, a top executive said Tuesday.

The successor to Michael Hutchins, who filled the role on an interim basis, guided a well-known bank's real estate business through the financial crisis.

The bank has brought in mortgage industry veteran Ken Logan as senior managing director to oversee a broader range of financing it's offering to home lenders.

The Dallas company, which has been in transformation mode for three years, recently took a series of actions to try to meet the profitability targets it set for itself.

After hikes pinched profits across the industry, a move in the opposite direction could be the start of a more promising trend. But bankers caution that the immediate effects of a September rate cut figure to be small.

Other estimates suggest nonbank mortgage employment grew in July as the industry cautiously added staff to handle incremental growth in demand for loans.

The Consumer Financial Protection Bureau is seeking to protect borrowers from unscrupulous loan servicers. The goal is laudable, but the agency's methods are misguided.

Between TD Bank's $3 billion anti-money-laundering hurdle and BMO Financial Group's increased provisions for loan losses, here are the earnings highlights for non-U.S. banks.

From Citigroup's positive earnings butting up against fines from the Office of the Comptroller of the Currency to First Guaranty's 15% layoff, here are earnings highlights to be mindful of.

The Federal Reserve Bank of Atlanta president said the two mandates are in balance for the first time since 2021, although he is "not quite prepared" to declare victory over inflation.