Women managers in the Well Fargo’s wealth management division say they are being passed up for promotions; TD Bank's U.S. retail division saw profit jump 27% in fiscal Q3.
The CFPB nominee wins approval from the Senate Banking Committee by a 13-12 vote; the country is looking to borrow $11 billion after Aramco IPO is delayed.
A huge chunk of the profit increase in the second quarter was due to a lower tax rate, but rising net interest margins and loan growth signal that institutions continue to derive revenue from their loan book.
A deceleration in mortgage balances ends CIBC's three-year streak of outpacing Canada's other large lenders on mortgage growth. Royal Bank of Canada said this week that mortgage balances were 5.9% higher than a year earlier.
The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health.
