PayPal’s friendly quarter; Dangerous bubbles
Payments company reports double-digit increases in both profit and revenue; card company faces intense competition. ... Read full article
Payments company reports double-digit increases in both profit and revenue; card company faces intense competition. ... Read full article
With online retailers beginning to challenge the dominance of brick-and-mortar grocery stores, CRE loans to strip mails anchored by them look riskier. ... Read full article
Dramatic changes in the way banking services are delivered combined with slow economic growth has resulted in too many banks chasing too little business, said BB&T's CEO. ... Read full article
The Federal Reserve Board governor sketched out a future in which U.S. banks remain at the center of commercial transactions. ... Read full article
Acting Comptroller of the Currency Keith Noreika pushed back against concerns that his agency's proposed fintech charter will unduly benefit nonfinancial firms. ... Read full article
Federal regulators’ 2013 guidance on leveraged lending should have been treated as a rule under the Congressional Review Act – and is now eligible for Congress to repeal, the Government Accountability Office said Thursday. ... Read full article
A judge who imposed a $45 million penalty on Bank of America Corp. over a foreclosure on a California couple still isn't ready to forget the case he described as a "Kafkaesque nightmare." ... Read full article
Federal regulators are moving forward with plans to finalize one of the last significant Obama-era rules governing long-term bank liquidity despite widespread expectations by banks that the proposal was all but dead. ... Read full article
Robust growth in net interest income, combined with a lower provision for loan losses, helped boost Webster Financial Corp.'s profits to a record $62.4 million in the third quarter, 26% higher than a year earlier. ... Read full article
Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations, ... Read full article
Chenault to leave credit card giant helm after 16 years, vice chairman will take his place; Brett Redfearn named the agency’s director of trading and markets. ... Read full article
Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small. ... Read full article
In a moment of rare unity, the Independent Community Bankers of America and National Association of Federally-Insured Credit Unions sent a joint letter to FHFA arguing to stop the GSEs' profit sweep. ... Read full article
Growth in asset servicing offset declines in fees from foreign exchange and depositary receipt activity. ... Read full article
The Cleveland company's third-quarter profit more than doubled from the same period last year, thanks largely to its 2016 acquisition of Buffalo-based First Niagara Financial Group. ... Read full article
There's never an easy time to change leaders, but for American Express it's a particularly challenging time as it faces legal challenges to a core part of its fee structure and is still revamping its business model after a stinging client loss. ... Read full article
The non-binding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles. ... Read full article
"I’m not going to step aside because I’m an asset for this company," Tim Sloan said Wednesday, rejecting arguments by some Senate Democrats that he is too tied to the phony-accounts scandal. ... Read full article
The Treasury Department will release a report early next year on opportunities and risks posed by fintech as part of administration efforts to reform the regulatory structure, Craig Phillips said. ... Read full article
The Minneapolis company is considering re-entering a business it exited under pressure from its regulator in 2014. ... Read full article