Banking

California's Department of Financial Protection and Innovation is requiring registration by mid-February of debt settlement firms, earned wage access providers, private secondary education financing and student debt relief services.

Recent polling an industry group analyzed points to a range of outcomes that could create opportunities and risks for commercial and residential financing.

The Arkansas bank said CRE is no longer its principal growth driver, yet it is still the bank's most prominent business and a big part of its robust lending activity.

The Dallas bank has spent the last three years building itself into a new company. Now, it has to prove the investments will pay off.

The North Carolina-based company expects its revenue to outpace expenses next year — a goal that has proven elusive over the five years of Truist's existence.

The Buffalo, New York-based bank said its commercial real estate portfolio continued to shrink, but this was more than offset by business and consumer lending.

The Cleveland-based bank took a hit from a large bond sale, leading to a quarterly loss. But net interest income rose, and the company expects that metric to hit a key milestone in the fourth quarter.

The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.

The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.

Now that earnings season has kicked off, investors will be paying close attention for signs of loan growth and deposit pricing relief, though analysts don't expect improvements to materialize right away.

The veteran turnaround executive was hired in 2020 to salvage the troubled banking company after the Justice Department launched a far-reaching probe of its mortgage lending practices. It agreed to sell to Florida-based EverBank.

The top five credit unions have combined first mortgage loans and lines of credit of more than $104 billion as of June 30.

Banks in the hurricane's path are focused on finding employees and restarting operations. Those that do business in Western North Carolina are facing an especially grueling recovery.

An American Bankers Association panel of forecasters predicted slower growth, but it said the U.S. economy would likely avoid a recession, sparing lenders deep credit quality woes.

The National Community Reinvestment Coalition and four fintechs want the agencies to act on the White House's executive order on artificial intelligence.

Democratic Gov. Gavin Newsom signed measures designed to bolster consumer protection rules. The bills target several issues that have also been percolating at the federal level.

After the bank's 2014 spinoff from Royal Bank of Scotland, its executives worked to shore up weaknesses. Now they're concentrating on how to close the gap with regional banking peers.

The $17 billion-asset Suffolk-based company is convinced paying $120 million for an in-state rival is a more productive use of capital than share buybacks

While large institutions might rank low in customer satisfaction, the institutions that can build up client trust are also likely to see consumers more likely to share personal data, a leading analyst said.

Consumer Financial Protection Bureau Director Rohit Chopra said the action would "close the book" on the agency's investigation into the Sallie Mae spinout.