While bank stocks flounder, their bonds are seen as a haven against a possible recession; the senator asks bank about overdraft fees on closed accounts.
Deutsche Bank overhaul plan will put taxpayers and the financial system at risk; the San Antonio company names three women to key technology positions; issuers like Chase and Citi need to think beyond traditional card options; and more from this week's most-read stories.
The company withdrew an earlier bid to become an ILC after regulators identified problems with its application. It is seeking a Nevada bank charter because it wants to add deposit management services and expand into small-business lending.
Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.
Banks currently can help their CRA performance with mortgages to anyone in a distressed neighborhood, but Joseph Otting said officials crafting a reform plan are considering limiting that to lower-income borrowers.
Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.
The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.
