Community banks, big commercial banks and Wall Street investment houses are finding common ground in small-business loan funds that help Main Street, minimize potential losses on credit extended to young companies and sometimes lead to new business prospects.
By bending over backwards when borrowers trade in an older car for a new one, lenders are said to have embarked down an unsustainable path. The warning, by Moody’s, adds to concerns about credit quality in auto lending.
So-called performance-share units are pushing aside stock options as the preferred long-term incentive pay for bank executives. Many investors and regulators fear that options can encourage reckless conduct and have other shortcomings, though options still have supporters.
The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said.
The grandson of the oil titan and the former head of Chase Manhattan passes away at 101; Wells reports biggest drop in new account openings since the scandal.
Banks like TD and U.S. Bancorp are suddenly taking public shots from current and former employees critical of their sales practices, a sign that the industry has not put behind it the questions raised months ago by the phony-accounts scandal at Wells.
