The marketplace for services to help struggling families balance their short-term and long-term financial needs is improving, but is still insufficient.
While overbooking is a unique issue for the airline industry — and this may be an extreme example — the United episode is a cautionary tale for any service industry, including banking.
While many shareholders are by now largely immune to the transgressions of the U.S. banking sector, Wells Fargo’s recent phony account scandal has given even the most hardened cynics pause.
The San Francisco bank is adding $32 million to a previously announced agreement, and also extending it back to 2002, in the wake of a report on the roots of the firm's sales scandal.
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.
Despite merger-related charges, the Cleveland bank's first-quarter profit climbed 63% as the addition of a million new customers led to strong gains in both interest and fee income.
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.
