Loan demand disappointed as optimism for economic growth under President Trump gave way to uncertainty over the prospects for regulatory relief and tax reform. Credit quality held up, but the retail and health care sectors have become potential trouble spots. Here’s a recap drawn from banks’ quarterly earnings calls.
All six big card issuers reported higher chargeoffs in their credit card businesses, a sign that the post-crisis era of exceptionally strong credit performance has run its course.
The era of exceptionally strong loan performance in the credit card business has come to an end, and the Riverwoods, Ill., firm is feeling the effects.
Contrary to many third-party payment providers' practice of pushing customers to lower-cost payment rails, Regalii wants its end users to pay their bills with credit cards. The goal of this arrangement is, of course, to make money for banks.
American Express Co. reported revenue that beat analysts’ estimates after a marketing campaign showed signs of encouraging more card spending after the loss of key partnerships.
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.
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 issues.
Upgrade, an online lender started by former Lending Club CEO Renaud Laplanche, will tout credit monitoring and education features to stand out in a crowded field.
