A bank that can deliver a loan decision a little faster, or ask a client to input information just once, could get a leg up on the competition. But some executives are skeptical of software sales pitches and fear overpaying.
The U.S. subsidiary of the Spanish banking giant BBVA said Friday that direct consumer loans increased 40% in the first quarter and that its digital strategy is bearing fruit.
A 20% increase in lending, largely to players in the tech industry, helped the California company offset a one-time loss tied to an investment in the streaming company Roku.
Bank of America's new policy denying loans and other services to certain gun makers came after dozens of employees lost family members or suffered other trauma related to mass shootings in the past few years, CEO Brian Moynihan said.
