Finance

The investment banking giant is selling its General Motors credit card portfolio to Barclays, which is looking to grow and diversify its U.S. cards business. It's part of Goldman's retreat from consumer banking.

The Pittsburgh-based company's earnings fell 4% in the third quarter from a year ago, although noninterest income climbed 11%.

Caution among business owners has held down loans at the megabank and many of its smaller competitors. But third-quarter earnings suggest activity is rebounding.

Analysts peppered CEO Jane Fraser with questions about whether Citigroup, already hit hard by its regulators, could face asset growth restrictions. She said there is "absolutely nothing" in the works that could impact the megabank's businesses.

The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.

The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.

The issue of how private equity interacts with consumer-facing businesses is getting more scrutiny among Democratic lawmakers and policymakers, including Democratic presidential nominee and Vice President Kamala Harris.

Now that earnings season has kicked off, investors will be paying close attention for signs of loan growth and deposit pricing relief, though analysts don't expect improvements to materialize right away.

Honolulu-based Territorial Bancorp is delaying the approval vote by about four weeks in order to continue discussions with its shareholders. A group that includes a former Bank of Hawaii CEO is trying to scuttle the $78 million deal with Los Angeles-based Hope Bancorp.

Coordinated strikes by dock workers along the Eastern Seaboard and the Gulf Coast could cause issues for banks that provide credit to foreign shipping groups and domestic trucking companies.

Marc Rowan said he doesn't see a reason for the Federal Reserve to keep cutting interest rates to stimulate the U.S. economy.

The Miami-area bank long ago exited New York and has plans to leave Texas, as CEO Jerry Plush expands its footprint in the Sunshine State. The shift comes as the bank, which competes in Florida with many out-of-state banks, is set to cross $10 billion of assets.

The Federal Housing Finance Agency has proposed a change to capital rules on interest-bearing deposit accounts that would increase the Federal Home Loan Banks' flexibility to manage liquidity during times of stress.

The peak level of daylight overdrafts has diverged from the average level, which is usually a warning sign of reserve scarcity. This time it may be different.

Federal Reserve Vice Chair Michael Barr announced upcoming regulations requiring large banks to preposition collateral at the Fed's discount window and maintain minimum reserves based on uninsured deposit levels.

Goldman Sachs Group Inc.'s Luke Gillam and Bank of America Corp.'s Murad Khaled, set to join AlbaCore Capital and Apollo Global Management, are the latest in a growing list of top bankers to make the leap.

Between the Federal Reserve's half-percent interest-rate cut, and Warren Buffett slowing the gradual sale of his stake in Bank of America, here are key market moves to know.

After the bank's 2014 spinoff from Royal Bank of Scotland, its executives worked to shore up weaknesses. Now they're concentrating on how to close the gap with regional banking peers.

Warnings, finger pointing, and political infighting have consumed talks around a continuing resolution, but the details of the upcoming funding package are expected to be ironed out over the weekend for a likely vote early next week.

A new academic paper dives into the key factors that have caused bank failures over the past 160 years.