News Topic: Consumer banking

Dramatic changes in the way banking services are delivered combined with slow economic growth has resulted in too many banks chasing too little business, said BB&T's CEO. ... Read full article

The Cleveland company's third-quarter profit more than doubled from the same period last year, thanks largely to its 2016 acquisition of Buffalo-based First Niagara Financial Group. ... Read full article

Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations, ... Read full article

Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small. ... Read full article

"I’m not going to step aside because I’m an asset for this company," Tim Sloan said Wednesday, rejecting arguments by some Senate Democrats that he is too tied to the phony-accounts scandal. ... Read full article

The Minneapolis company is considering re-entering a business it exited under pressure from its regulator in 2014. ... Read full article

Strong gains in net interest income offset a decline in fee income, but a recent settlement with the federal government over alleged misconduct at its Wilmington Trust unit weighed on the Buffalo company's overall results. ... Read full article

Burgess, chairman of FirstCapital Bank of Texas, succeeds Dorothy Savarese, of Cape Cod Five Cents Savings Bank in Massachusetts, as chairman of the American Bankers Association. ... Read full article

The embattled company has begun offering cash bonuses to certain customers who open accounts, but at least for now pricey deposit rates would not ensure that customers stick around, executives said Friday. ... Read full article

Fee income also surged as the San Francisco bank reached the $100 billion mark in wealth management assets. ... Read full article

Total revenue rose less than 1% to $21.8 billion, but expenses declined 2.5% to $13.1 billion. That computed to the highest profit at Bank of America in six years. ... Read full article

Wells Fargo took a surprise $1 billion charge in the quarter for previously disclosed pre-crisis, mortgage-related regulatory investigations. It contributed to a 19% fall in profits. ... Read full article

Men really should take more paternity leave. B of A's Cathy Bessant talks about lessons learned, from Equifax and from career setbacks. And Wells Fargo's Diane Schumaker-Krieg reminds us all that one tenet of effective management is rest. ... Read full article

Banks such as Citigroup, Regions and TD have decided they need to offer mobile customers truly customized experiences. They are experimenting with different ways of doing so that come across as helpful without being intrusive. ... Read full article

Rising losses and chargeoffs at JPMorgan Chase and Citigroup could be an indication of future trouble at other banks. Still, executives are bullish on cards and argue that the loss rates are logical consequences of rate hikes and attempts to expand card ... Read full article

Consumers are looking for high-tech services, not just higher deposit rates, in deciding where to park their cash, a top JPMorgan executive said in discussing the company's explosive deposit growth in the third quarter — and whether it will continue. ... Read full article

Overall net income rose 8% to $4.13 billion as cost control helped overcome shortcomings in global consumer banking profits and bond trading revenue. ... Read full article

An increase in corporate loans, the highest lending margin in 4 1/2 years and record profit in asset management helped the lender top analysts’ estimates and offset trading and other challenges. ... Read full article