Ally surges past estimates after dramatic restructuring
Three months after posting negative returns, Ally Financial’s net income and earnings per share both surpassed Wall Street’s expectations.
Amex earnings beat Wall Street estimates on strong revenue growth
The credit card company, which sells to high-income consumers, said its card refresh strategy is on schedule with CEO Steve Squeri citing “strong momentum.”
Truist misses earnings estimate, keeps a lid on expenses
While the regional bank’s second-quarter earnings per share fell slightly short of analysts’ expectations, it managed to reduce expenses by 3.5% year over year. Keeping costs in check has been a major focal point for Truist for years.
As banks embrace crypto, a defense blueprint is born
A new MITRE framework breaks down how cybercriminals attack cryptocurrency systems and helps institutions secure them. Plus, it’s a free, open standard.
Why one midsize bank is excited about stablecoins
Fifth Third Bancorp in Cincinnati wants to become a bank for crypto platforms. Its CEO believes that stablecoins pose minimal threat to the U.S. deposit market.
Stablecoin legislation inches, finally, toward a House vote
The GENIUS Act, which will give the green light to banks interested in stablecoins, but which has also raised fears that it will disintermediate the banking system, will go straight to President Donald Trump’s desk once it passes the full House vote later today.
5 ways financial firms nudge staff to use AI more
New York Life and D.E. Shaw are among the companies encouraging use of large language models throughout their organizations.
Wise misses U.K. earnings estimates, plans U.S. listing
The U.K. fintech’s shares fell about 5% in London, partly due to international currency volatility. It hopes a U.S. listing will improve the company’s ability to raise capital.
Investment banking drives strong Q2 for Texas Capital
The Dallas bank attributed its success in the second quarter to investment banking and trading fees. Executives continue to believe they will hit the bank’s target for improving a key profitability metric later this year.
Webster Financial hangs hat on HSA provisions in tax bill
A new federal law that decouples health savings accounts from high-deductible insurance plans is expected to be a tailwind for the Connecticut bank’s health care unit.