Financial institutions

The average price of a previously owned car has fallen in two consecutive months, and if the trend continues, lenders could see losses mount, Richard Fairbank said this week.

Many business customers are putting off expansion because they can’t find enough workers to fill available jobs.

Todd Gibbons, who succeeded Charlie Scharf in September, said tech investments give the custody bank a competitive edge and make it more efficient.

Named interim CEO in August, Noel Quinn now appears to be the front-runner to lead the global bank's next turnaround.

The Rakuten application has piqued interest in reviving legislation aimed at stopping commercial firms from owning banks. Yet Congress previously had the chance to enact such a measure and declined.

Several banks abandoned their BHCs two years ago to cut costs and reduce regulatory burden. But the strategy never really took hold as most bankers determined there were more benefits to having holding companies than eliminating them.

Brendan Coughlin will succeed Brad Conner as head of consumer banking, and Beth Johnson will be the bank's first chief experience officer.

BB&T and SunTrust showed that big-bank mergers are still possible, but top executives at other large regional banks say that a knee-jerk response would be a mistake.

Raging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec.

Raging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec.