Executives are reluctant to pull back on their big investments in technology, arguing they must stay competitive and that they have flexibility in other areas to trim costs if growth begins to stagnate.
The Minneapolis company, which reported strong profits but 1% loan growth, is hiring middle-market bankers in New York and launching a digital lending platform aimed at small businesses.
The two megabanks face different problems, as Bank of America customers are frustrated over fees and customer service while Wells customers are alarmed about the bank's recent scandals.
Big banks are expected to report that commercial lending weakened in the third quarter thanks to tax cuts, nonbank competition and seasonal factors. It raises questions about whether the second-quarter rally was an anomaly and if an overall economic slowdown is edging closer.
The nation's largest bank overtook PNC Bank to snag the top spot in an annual study that evaluates satisfaction levels at the nation's six largest retail banks.
In five years, Moy has built from scratch a thriving business unit that is focused solely on developing easy-to-use, customer-facing technology for U.S. Bancorp's wealth management clients.
The mass retirement of baby boomers and the growing affluence of women are the biggest disruptive forces in the industry, says Gunjan Kedia. Here's how she's dealing with them.
The Minneapolis bank is betting that it has the heft — and the brand recognition — to compete for deposits in states where its biggest rivals already dominate.
The nation's fifth-largest bank on Monday rolled out a three-month consumer loan that is far less expensive than the typical payday loan. The move comes as regulators are encouraging banks to reach out to the subprime market, which they largely abandoned.
