Finance

The store-branded credit card company revised its revenue guidance upward on the assumption that the CFPB's late-fee cap won't take effect before 2025. Still, Bread is moving ahead with plans to make up some of the revenue that it stands to lose from the contested rule.

First Foundation in Dallas recently got a $228 million capital injection led by Fortress Investment Group. Now it's announced plans to pivot away from its heavy focus on multifamily loans, which lost value as interest rates rose.

The San Antonio-based bank is in the midst of a yearslong expansion effort spanning Houston, Dallas and Austin — all of which are fueling loan growth.

The Raleigh, North Carolina-based bank grew loans and deposits in the second quarter as it won back business from former customers of the failed Silicon Valley Bank. First Citizens bought the remains of SVB last spring.

Third-party origination operations are also going to Mr. Cooper in the $1.4 billion deal, in which the seller cited interest in improving its capital position.

The parent company of Flagstar Bank reported a net loss of $323 million for the second quarter after boosting loan-loss provisions and recording a steep increase in net charge-offs. Still, it says it's making progress on a turnaround plan, including by agreeing to the sale of its mortgage servicing business.

The $72.8 billion-asset bank lowered its guidance for net interest income, explaining that while business prospects on the island are relatively rosy, its stateside opportunities for loan growth look weaker.

The Spanish bank recorded its best efficiency ratio in 15 years, Chairwoman Ana Botin said in its quarterly earnings statement.

A federal judge recently rejected an agreement on transaction fees, ensuring that a multi-year battle between the credit card companies and merchants will continue. Ryan McInerney vented during Tuesday's earnings call.

Old National Bancorp's earnings remained strong as it continued its expansion into the southeast with its recent $344 billion acquisition of CapStar. Executives said they foresee similar growth for the remainder of the year.