Growth in loans and fees pushes U.S. Bancorp’s profits higher
The Minneapolis-based company boosted revenue, kept operating expenses in check, and beat analysts’ first-quarter earnings expectations.
BNY posts record revenue, gets boost from market volatility
America’s oldest bank enjoyed a 33% increase in its bottom line, as economic turbulence fueled business and the company’s efforts to improve efficiency and boost cross-selling paid dividends.
Foreclosures ‘could signal shifting housing market dynamics’
Quarterly filings are far from historic highs but rising more consistently, with concentrations in Florida, California and Texas, Attom’s latest numbers show.
Early Warning Services adds identity security unit Certos
The bank-owned fintech has been under immense pressure to do more to combat fraud and scams on its peer-to-peer network, and is hoping to bring more public visibility to what the company says has always been its historical backbone.
Banks won’t get serious about climate risk until GSEs make them
Banks are currently underwriting mortgages based on one-year property insurance contracts. The Federal Housing Finance Authority should use its influence to build longer-term climate risk assessments into loans.
The local bank branch is not quite dead
JPMorganChase, Bank of America, and PNC are all investing money into new branches; actual, physical branches. Not many, but they are doing it.
Global regulators weigh cybersecurity reality of Mythos
Anthropic’s new AI model can autonomously exploit software flaws, prompting urgent security meetings among U.S. and U.K. financial regulators.
The more things change: Bank CEOs on why they’re adding branches
Big-bank executives explained this week why they’re still investing in their physical footprints, even as AI advances rapidly and financial technology firms wade deeper into the banking business.
OMB’s Vought: CDFIs funded ‘woke’ programs
Office of Management and Budget Director Russell Vought told the House Budget Committee Wednesday that the Community Development Financial Institutions Fund is still a target for elimination by the administration because it promotes “woke” ideology.
‘AI is our friend’: Bank CEOs play down risks from Mythos
The topic of AI implementation came up on several big banks’ first-quarter earnings calls. Morgan Stanley CEO Ted Pick said Wednesday that the firm views AI as a friend.