The New York bank has rapidly expanded its commercial real estate lending over the last several years, but now it is ready to slow down a bit and add more commercial and industrial loans to the mix.
Lawmakers from both political parties are increasingly interested in forcing lenders that offer loans to upgrade home heating and cooling systems to issue better disclosures, a prospect that has some in the industry nervous.
The hand-wringing over business lending has overshadowed the fact that consumer lending — particularly for regional banks — has become a strong and steady engine of growth.
Bank of America's year-over-year loan growth was slow, but parts of its commercial and U.S. consumer businesses were strong, prompting optimism from the CEO in the face of lackluster numbers across banking so far this earnings season.
Homebuilders looking for single-family construction loans may have better luck with small and midsize banks than larger ones, according to a report by the National Association of Home Builders.
The Birmingham, Ala., company's profit climbed 8% as as higher market interest rates and investment securities balances offset lower average loan balances.
The Columbus, Ga,, company also announced late Monday that it is buying the credit card assets and brokered deposits of the retailer Cabela's and will then sell the card portfolio to Capital One.
