PNC is latest bank to say costs will rise alongside revenue
In its latest 2026 guidance, the Pittsburgh-based bank predicted an increase in income, but also an uptick in expenses. Much like JPMorganChase, which made a similar revision to its forecast this week, PNC views the two trends as inseparable.
BNY: AI bet is paying off, client impact is ‘measurable’
“Ultimately, adoption and embedding in a company is going to be the differentiator for many firms on whether or not they’re successful with AI,” said BNY CEO Robin Vince.
Bank of America’s Moynihan touts ‘good economics’ of AI
Increased use of artificial intelligence led to revenue growth and productivity gains during the second quarter, the bank’s leaders said.
CSI purchases treasury payments fintech Qolo
The deal is the latest in a series of acquisitions by bank core provider CSI, which is further expanding its offerings for regional and community banks.
Budget for 6.3% rates through 2027, Fannie Mae warns
Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.
Fed Gov. Cook: ‘inflation is simply too high’
Federal Reserve Gov. Lisa Cook said risks, including geopolitical tensions, are tilted toward higher inflation in the near term.
Democrats preview tough oversight of CFPB post midterms
Russell Vought, testifying in front of the House Financial Services Committee for the first time in his tenure atop the bureau, was unapologetic about his attempts to cut the consumer protection agency and its regulation and supervision functions.
Flush with capital, Morgan Stanley eyes potential purchases
The investment banking giant has a hefty amount of excess capital, some of which is being used to meet client demand. At the same time, the company is open to opportunities to do bolt-on acquisitions, CEO Ted Pick said.
Warren grills Warsh over Bowman dinner, personal investments
The ranking Democrat on the Senate Banking Committee pressed the Federal Reserve chair for details on a Bank of America dinner that Gov. Michelle Bowman attended.
As fintechs chase OCC licenses, are sponsor banks at risk?
Coastal Financial, which has added Pliant as a client to support the German fintech’s U.S. ambitions, says there’s still a need for partners to ease compliance and automation.