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. ... Read full article
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. ... Read full article
The Atlanta company's profits rose on stronger net interest income and investment banking income as well as a tax maneuver. ... Read full article
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. ... Read full article
Delorier is a former chief marketing officer and head of consumer channels at SunTrust Banks. ... Read full article
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. ... Read full article
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. ... Read full article
Earnings per share fell a nickel short of estimates due in part to lower-than-expected revenue from the origination and sale of mortgages. ... Read full article
The North Carolina company reported lower net income from a year earlier after extinguishing nearly $3 billion in FHLB advances. BB&T also reported more regulatory charges as it deals with a consent order. ... Read full article
The Minneapolis company reported higher quarterly earnings thanks to strong performance in credit cards, investment management and other fee-based business lines. ... Read full article
The Ohio company said it is retaining more FirstMerit deposit accounts than it had projected. At the same time, Huntington is moving forward with cost-cutting tied to the acquisition. ... Read full article
Traditional banks’ budgets for growth and transformation have been virtually non-existent since the financial crisis. In the new political and economic climate, traditional banks will gain the resources they need to innovate. ... Read full article
Bank of America beat expectations in several categories, including earnings per share, revenue and net interest margin. ... Read full article
Even in the event of a landslide, throw-the-bums-out investor vote over director seats next week, expect business as usual in Wells’ boardroom for a long while. ... Read full article
Readers weigh in on a notable OCC personnel change, the Scottrade breach, the ability of corporate owners to still be anonymous and more. ... Read full article
The San Francisco bank says it's making strides in regaining the trust of its customers, but winning over new ones — as evidenced by a 9% decline in retail banking profits — remains a struggle. ... Read full article
A review of activity that long ago would not shed additional light on the scope of misconduct in Wells Fargo's retail banking unit, CFO John Shrewsberry said in an interview. ... Read full article
Earnings season kicked off with some banks capitalizing better than others on higher rates and still-low deposit costs. Banks will have to keep working on that balance as they contend with rising credit card losses, slower commercial lending and other ... Read full article
Tangerine Bank, the digital lender owned by Bank of Nova Scotia, will start offering credit lines this year as it seeks to boost revenue and bolster flagging profit through expanded product offerings. ... Read full article
First-quarter revenue at the scandal-plagued bank missed analysts’ estimates as profit fell in the lender’s troubled retail bank and expenses climbed. ... Read full article
