Fed’s Waller says policy outlook depends on Strait of Hormuz
Federal Reserve Gov. Christopher Waller said Friday that the length of time the Strait of Hormuz remains blocked will be a key factor in the longer-term inflation outlook — and, by extension, the Federal Reserve’s monetary policy path.
Ally’s auto credit improves, despite tough backdrop
Nationwide, Americans are falling behind on their car loans. But among Ally Financial’s customers, delinquencies fell during the first quarter.
Why Swift is pushing new standards for cross-border payments
The international messaging network is attempting to standardize consumers’ cross-border payment experience as other payment rails such as Visa Direct, Mastercard Send and stablecoins pressure the correspondent banking system.
Regions sees profits grow as business lending picks up
The Birmingham, Alabama-based company also benefited from improved credit quality, with declines in nonperforming assets and criticized loans paving the way for a reduced provision
Fifth Third CEO on Comerica integration: So far, so good
CEO Tim Spence said folding in the acquired bank has gone to plan so far, but the biggest point of risk is still on the horizon.
Lawmakers spar over GSE credit score modernization plans
Questions about the single-report option and whether VantageScore should be introduced before FICO 10T arose during a hearing on broader legislative proposals.
This means (economic) war
The U.S. is preparing to turn its conflict with Iran into the kind of economic war that Iran has been waging since the start.
IMF urges banks to share data to fight fraud
A new International Monetary Fund working paper highlights how inadequate data sharing leaves the U.S. banking sector vulnerable to transnational fraud syndicates.
Truist boosts net income, sets higher profitability target
The Charlotte, North Carolina-based regional bank said it’s been executing on its strategic priorities and is consequently setting a new, higher target for a key profitability metric.
Banks are pretending not to notice a big problem with private credit
The real risk is not whether private credit looks like 2007 — it’s whether banks understand how much of their balance sheets are quietly exposed to marks they don’t control.