Top officials at Bank of America and Wells Fargo said that commercial loan demand is weak, even as U.S. consumers show strength. Their comments echo recent findings by the Federal Reserve.
After shaking up the financial services industry last month by eliminating commissions for all online trades, Charles Schwab is setting its sights on building out its lending services.
While American Express initially lost customers after JPMorgan Chase introduced the popular Sapphire Reserve premium card in 2016, the firm said it's seen a 60% increase in growth in Platinum accounts.
A California bank with deep ties to the U.S. venture capital industry is targeting Denmark for growth, as a lack of regulatory constraints on lending make the country a preferred destination in Scandinavia.
The month of October brought some jumbo unitranche loans to the direct lending market. It also brought declines in the quality and terms of broader deals, according to some participants.
Many in the space are seeking the creation of a "flexible" supervisory regime that relies on existing authorities and a hands-off approach from state agencies, but such a plan faces an uphill battle.
Banco Santander Chairman Ana Botin said that more than a decade after the financial crisis, bankers and other elites remain distrusted around the world, and "as a result, political populism is ascendant."
