Santander Consumer is planning to attract online deposits via a national platform that could rival Goldman Sachs’s Marcus; HSBC is now in retrenchment mode after aiming for growth.
BB&T-SunTrust merger closing could slip into 2020; how “the most feared freshman” is shaking up House Banking panel; consumers are split about trusting Amazon, Google with their savings; and more from this week’s most-read stories.
They’ve long used their marketing muscle to wrest deposit share from smaller competitors. Now, amid growing concerns that the economy is weakening, they could be benefiting from consumers’ flight to safety.
The Dallas company also warned of a decline in net interest income this quarter due to the anticipated impact of Federal Reserve interest rate cuts on loan yields.
BofA’s do-no-harm approach to AI; looking at what comes next for Fannie and Freddie now that they get to keep their earnings; ruling cuts short debt collectors’ victory lap over CFPB proposal; and more from this week’s most-read stories.
Many community banks are launching digital banks, more aggressively courting younger customers and abandoning the idea that only primary banking relationships are worthwhile.
