Midsize players like BankUnited, BOK and Fulton Financial plan to rely on selective M&A, catering to niches overlooked by big banks, aggressive recruitment of commercial lenders and other strategies to stimulate revenue growth.
A letter from the Ohio Democrat claims Rodney Hood, chairman of the National Credit Union Administration, is using social media to "inappropriately curry favor with the president, seriously compromising the independence of the agency."
Huntington Bancshares and U.S. Bancorp also said in recent days that they are eliminating jobs to reduce overhead and improve profits. With net interest margins shrinking and branch traffic continuing to decline, expect more banks to follow suit, analysts say.
The Government Accountability Office determined that three Obama-era letters from the central bank related to large-bank supervision should have been submitted for congressional review.
It has already been modifying more problem loans and investing in efforts to recover charged-off loans, and now the credit card lender is ready to tighten underwriting in case the economy weakens.
