People's United in Connecticut pored over all the customer data it could find to persuade customers to give the midsize bank — instead of advisory firms and investment houses — a shot at managing their money.
Bankers should resist the urge to skirt financial regulations, including know-your-customer and lending standards, to make a sale. The danger of penalties and a possible reputational hit is too great.
Citigroup's traders underperformed their peers at JPMorgan, and Citi's U.S.-branded card revenue fell. Its global business performed well, but the looming trade war presents uncertainty.
PNC revealed the plan as part of its report of strong second-quarter results, and CEO Bill Demchak said it is an example of the regional bank's growth-oriented investments.
