Interest rates

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

The company could rein in deposit costs, cut operational expenses and buy back more shares in anticipation of a Federal Reserve rate reduction. Other banks — especially big ones — could do the same.

Interest rates on CDs of six-months or longer have declined since a Federal Reserve meeting in June, according to Moebs Services.

Christopher Waller is a conventional choice drawn from within the Fed’s own ranks. Judy Shelton has spent decades outside mainstream economics. But both are expected to echo the president’s call for lowering interest rates.

The president said that European Central Bank President Mario Draghi would do a better job overseeing monetary policy in the U.S. than Fed Chairman Jerome Powell.

Regional and small banks are striking digital partnerships and launching new savings offerings as they attempt to steal away business from bigger institutions.

The banking industry isn't prepared to transition away from a key financial benchmark in 2021, and steps need to be taken now to avoid market disruptions.

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management."

Currently, the maximum a federal credit union can charge on most loans is 18%. But a proposal from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez to lower that to 15% on consumer credit could reduce access, experts said.

It's tempting to reach for higher returns on securities in anticipation of tightening margins. However, that strategy has pitfalls, including underestimating risks or being caught flat-footed by future rate moves.

Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates.

Banks are starting to lower their rates to savers, due to easier Fed policy and lower expected profits; Commercial lenders see big rise in non-performing loans.

A bill that would have capped payday loan rates at 36% failed to get through committee, but credit unions have pledged to continue to fight for the legislation.

The legislation from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez is part of an effort to shift the range of what is thinkable in Washington to the left. It may also serve to highlight the vulnerabilities of Democrats with bank-friendly records.

The Democratic senator's legislation, which has been floated in previous years, would apply to the APRs on all open-end and closed-end consumer credit transactions.

The Democratic senator's legislation, which has been floated in previous years, would apply to the APRs on all open-end and closed-end consumer credit transactions.

Money managers, which are critical to the success of State Street and Northern Trust, are aggressively moving cash into higher-rate products.

The Alabama company recorded a $91 million loan-loss provision and raised deposit rates during the first quarter.

CEO Joseph DePaolo lamented the tough funding environment after the New York bank said deposit costs jumped 90% in the first quarter. Signature was the second bank Wednesday to report a drag on profits from funding costs.

Bank of New York Mellon's clients shifted more of their deposits to higher-rate products. It was one of several trends that hurt the custody bank's bottom line.