The bank has contends that the misconduct was widespread, but a whistleblower letter unearthed by the Consumer Financial Protection Bureau points to Chicago as a hotbed of customer abuse. "We are becoming a 'predatory' financial ... Read full article
The pandemic won’t halt the Cincinnati bank's plan to open about 100 branches in the Southeast, but features could be added to accommodate social distancing. ... Read full article
The Cincinnati company will hire about 950 workers to meet heightened demand for loan deferrals and other forms of relief clients are seeking to weather the economic fallout of the coronavirus outbreak. ... Read full article
While most banks are shrinking their branch networks, the Cincinnati bank is approaching the day where its branch expansion in the Southeast will more than offset closings in its legacy markets, its CEO says. ... Read full article
Amid concern that an economic downturn is approaching, Greg Carmichael said that banks need to focus on credit quality and not worry about expanding their balance sheets. ... Read full article
The Cincinnati regional bank says it will spend an extra $15 million a year to offer more competitive pay that it hopes will attract talented front-line employees. ... Read full article
KeyCorp, Regions Financial and others have sacrificed short-term profits to avoid being crushed by an anticipated decline in interest rates. ... Read full article
CEO Greg Carmichael said Wednesday that online-only banks "aren't relationship-based" and that Fifth Third would stick to its plan of attracting new depositors by selectively expanding into new markets. ... Read full article
Jamie Dimon remains the highest-paid chief executive, but his 5% pay raise was smaller than that of at least five of his counterparts. Here's what CEOs of 13 large and regional banks earned last year, based on recent proxy filings. ... Read full article
CEO Greg Carmichael says the Cincinnati bank will hire bankers in Denver, Dallas and Houston as part of a broader expansion into fast-growing markets that are home to lots of midsize firms. It is also interested in buying more fee-based businesses. ... Read full article
Though consumer lending and C&I lending improved at the Cincinnati company, its corporate and mortgage banking revenues fell in the third quarter. Last year Fifth Third also posted a one-time gain of $1B associated with its sale of shares in Vantiv, ... Read full article
The bank announced plans to open 100 to 125 branches in fast-growing cities across the Southeast, and will close an equal number in the Midwest. In a way, it's finishing a plan it cooked up nearly two decades ago. ... Read full article
The Cincinnati bank reported strong profits, but its efforts to lower credit risk curbed lending as expenses rose in the first quarter. ... Read full article
Net interest income has surged thanks to rising rates, but noninterest income has lagged as trading revenue has weakened, refi demand has softened and fees from deposit service charges have barely budged. Is this the new normal? ... Read full article
Fifth Third said it will give a bonus or raise to about three-quarters of its employees while Wells Fargo raised its minimum hourly pay in the wake of Congress' passing a tax reform bill. ... Read full article
Fifth Third last bought a bank in 2008, but CEO Greg Carmichael says "strategic bank M&A absolutely makes sense," and the Cincinnati bank is poised to clear up a blot on its regulatory record that blocked dealmaking. ... Read full article
The heads of some of the largest U.S. banks are calling for a new security-focused mindset among executives, better forms of ID and collective action in the aftermath of the Equifax breach. ... Read full article
