Financial institutions

The industry trade group said Rakuten's nonfinancial activities raise questions about its pursuit of a banking charter.

Rakuten joins a growing list of fintechs trying to enter the regulated banking sector. All have faced their share of obstacles.

Second-quarter earnings at the Chicago custody bank were flat as increased interest costs offset better yields and fee income held steady.

The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.

KeyCorp, Regions Financial and others have sacrificed short-term profits to avoid being crushed by an anticipated decline in interest rates.

The eight "systemically important" banks currently file resolution plans annually, but a pending proposal would require them every two years.

Earnings at the Cincinnati company fell 25% from the same period last year, largely due to $109 million in expenses tied to its March acquisition of MB Financial.

Pressure to raise rates on deposits offset strong loan growth at the Salt Lake City company.

On Mar. 31, 2019. Dollars in thousands.

On Mar. 31, 2019. Dollars in thousands.

On Mar. 31, 2019. Dollars in thousands.

Weighing in on interest rate and other uncertainties facing all banks, Citizens Financial CEO Bruce Van Saun emphasized investments in point of sale, digital banking and other initiatives meant to enhance revenue down the road.

The Birmingham, Ala., company warned in its earnings call that moves by the central bank could make it harder to lower costs.

While executives at the Buffalo, N.Y., bank said they would take a closer look at spending, especially given the potential for interest rate cuts, they described investments in tech talent as an essential cost of doing business.

Ahead of a House hearing to examine his company's proposed merger with SunTrust, King tried to downplay regulatory concerns.

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

CEO William Demchak, encouraged by early returns from new branches in Dallas and Kansas City, Mo., plans to enter even more markets.

The decision gives the vast majority of banks and credit unions another year to implement the controversial accounting method for loan losses.

The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.

The offering would mirror a similar move by Charles Schwab to offer clients a new pricing plan for its robo service.