Fees from capital markets activities have propelled profits at several regional banks when they needed it —and just as the Glass-Steagall redux crowd wants to kill it.
Executives at BB&T, KeyCorp and Citizens are milking commercial lending niches and balancing cost control with new investments while waiting for more rate hikes to fatten margins.
The "Citizens Checkup" program to help customers set financial goals has come under fire, but CEO Bruce Van Saun says it is valuable and "here to stay," and that the criticism of it pales in comparison to the Wells Fargo scandal.
First-quarter earnings at the Providence, R.I., company jumped 45% thanks partly to improvements in its net interest margin, 7% loan growth and stronger card and other noninterest income.
Citizens Financial dropped the most in the 24-company KBW Bank Index after some branch workers told a newspaper they faked information about customers attending its "Citizens Checkup" program.