The bill, which President Trump is expected to sign Friday, includes $310 billion more funding; the four largest U.S. banks took in $590 billion of the $1 trillion banks attracted. ... Read full article
Consumers and businesses put more money in the bank as the pandemic worsened. How long the funds remain will depend on how quickly the economy recovers. ... Read full article
Firms that spread big-dollar deposits to community banks have seen a rush in demand as small businesses seek emergency loans to weather the coronavirus pandemic. ... Read full article
The agency proposed changes in December to how customer relationships affect the definition of brokered funds, which has big implications for banks that are not well-capitalized. ... Read full article
Banks and fintechs are not taking undue risks in lending to new customers; Jefferies CFO Peg Broadbent succumbs to the disease at age 56. ... Read full article
State Farm struggled to make its bet on banking pay off and decided like other insurers to exit the business. U.S. Bancorp swooped in to add deposits and credit card accounts at little cost or risk. ... Read full article
The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen. ... Read full article
The San Diego bank is struggling to renegotiate a partnership with the tax preparation firm to address caps on interchange fees. ... Read full article
The FDIC’s Quarterly Banking Profile said lackluster net interest income, likely resulting from lower short-term interest rates, drove a decline in fourth-quarter and full-year earnings. ... Read full article
The Canadian banking giant has the resources and the tech know-how to build a digital-only bank in the U.S., but can it set itself apart from the likes of Capital One, Ally, Citizens Bank and Goldman Sachs? ... Read full article
The company's new platform targets a narrow customer segment — frequent fliers. ... Read full article
The new features use automatic transfers to encourage account holders to build savings faster and with less effort. ... Read full article
The people of tiny Duncan, Ariz., have found creative ways to adapt to life in a banking desert, but their experience augurs a worrisome future for many other rural communities. ... Read full article
The Wall Street bank aims to double consumer deposits and triple outstanding consumer loans in five years. A checking account is slated for 2021, and more cobranded credit cards could be coming. ... Read full article
On Sep. 30, 2019. Dollars in thousands. ... Read full article
Ally and other direct banks continue to report strong deposit growth even as they slash the rates they pay to depositors. The trend suggests that the online-only approach has more staying power than its detractors believed. ... Read full article
The New York bank said Wednesday that its first-ever credit card has brought in nearly $2 billion of loans in less than six months. ... Read full article
CEO William Demchak said the bank has witnessed "a lot of mischief" among customers who open checking accounts to collect bonuses and then never use the accounts again. ... Read full article
Quontic Bank is offering high-interest, digital-only savings like others, but it says its secret sauce is homegrown technology that optimizes deposit prices. Financial bloggers have taken notice. ... Read full article
Low rates and spotty loan demand mean banks are having to “dig deeper” to improve efficiency and maintain profit margins. ... Read full article
