Finance

The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.

FactSet, Brightwave and Bloomberg are among those offering generative AI models that do research legwork. But Wall Street firms have lately been taking a harder look at the cost and return of generative AI.

The Georgia-based bank recorded a $257 million hit after unloading a bundle of securities that it expects to redeploy into higher-yielding assets. It also forecast a resumption of loan growth in the second half of the year.

Mixed earnings results at Wells Fargo and the ongoing merger proposal between Discover Financial Services and Capital One Financial are creating added pressure for investors.

The Cleveland-based regional bank continues to benefit from strength in investment banking, though concerns about stalled loan growth emerged as CEO Chris Gorman described demand as tepid.

For at least the fifth consecutive quarter, the Providence, Rhode Island, company increased its allowance for credit losses on general office loans, which continue to be a problem area for banks.

The Detroit-based auto lender has been dealing with an imbalance in deposit costs and loan yield since rates rapidly rose. Now, the bank's fixed-rate loans from before are maturing.

The credit card company is seeing fewer customers fall behind on their payments. But with lower-income consumers still being pinched by inflation, Synchrony isn't loosening its lending standards.

Morgan Stanley became the latest big Wall Street bank to tap the U.S. investment-grade market Wednesday after reporting earnings, as strong investor demand helps lenders borrow at lower yields than would have been possible at the start of the month.

The Minneapolis-based company reported an 18% increase in quarterly net income thanks largely to slimmed-down operating expenses. It also notched modest increases in loans and deposits, while asset quality issues remained manageable.