Bank of America's Brian Moynihan had a lot to brag about in discussing 1Q results but faced questions about what he would do if economic growth slows and rates hold steady for a prolonged period. Other bank chief executives have gotten, or will get, similar questions this earnings season.
The House Financial Services Committee recently approved protections for banks financing cannabis companies in states where it’s legal. This a good first step, but improvements are needed.
Some lenders, especially in markets like California, are preparing in case of a technology-industry stumble that hurts business, real estate and other loan segments. Whether those fears are well founded is a matter of debate.
An executive at the Rhode Island company said the complexity of business lending remains an obstacle to switching to entirely automated, paperless operations.
Six senior executives at Chemical and TCF will move into similar roles when the merger closes later this year. Chemical Bank's current CEO, Tom Shafer, will become president of the combined bank, reporting to CEO Craig Dahl.
