Executives point out while they are fixing the online lender's very public problems, loan originations are still in the billions and it has expanded into wealth management.
Supporters of an unreleased bill to revamp the housing finance system say the plan strikes a middle ground that can gain support from both sides of the aisle.
The Chicago custody bank won new fund-administration business and benefited from the acquisition of a UBS asset-management unit. A one-time adjustment tied to the new tax law also provided a boost.
Citigroup Inc. CEO Michael Corbat said he’s ready to deploy resources to grow “even faster” in a world of synchronized economic growth from Japan to Europe.
Acting Director Mick Mulvaney’s decision to halt the collection of consumer data renders bank exams less effective and ignores existing cybersecurity protections, the Massachusetts senator argues.
In a strongly worded memo to staff of the Consumer Financial Protection Bureau Tuesday, acting Director Mick Mulvaney indicated the bureau will value the concerns of companies it regulates to the same extent as consumers.
A plan by the largest U.S. bank to use part of its tax windfall to enter new markets (including Washington and Boston) could become a serious threat for banks of all sizes in those cities — or looked backed upon someday as a pricey over-expansion.
Consumer lending was a bright spot, but a series of one-time charges, capped by a writedown on its deferred tax assets, led to a nearly $1 billion loss.
