U.S. Bancorp ‘confident’ in strategy after bumpy 2024
The $678 billion-asset bank highlighted its payments and investment management and trust business as fee generators in the recently ended quarter.
Sen. Tim Scott criticizes FHFA actions, eyes housing reform
The Senate Banking Committee Chair launched an agenda that puts agencies on a shorter leash and separately took aim at the FHFA recent moves.
Bank of America profit beats expectations, boosted by fees
In the final quarter of 2024, the nation’s second-largest bank saw its revenue and earnings per share grow beyond Wall Street’s estimates.
First Horizon’s earnings slip after securities portfolio restructuring
The Memphis, Tennessee-based bank had a $91 million loss related to its securities portfolio, which weighed on noninterest income.
Exclusive: Rep. Andy Barr to reintroduce de novo bank bill
The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.
Citi’s Fraser defends expenses, long-term investments
Jane Fraser, CEO of Citigroup, told analysts she’s not going to sacrifice growth-related investments for short-term gains. “You shouldn’t want me to do that,” she said.
Trump team eyes hiring freeze, regulatory rollbacks for CFPB
The incoming Trump administration’s ‘agency review team’ has landed and is expected to name an acting director of the Consumer Financial Protection Bureau. Republicans on the Federal Deposit Insurance Corp. or the Federal Trade Commission are among the most likely candidates.
New EU cyber law for banks could reshape global standards
Banks must comply with a European Union law known as DORA by Friday. The law aims to improve cybersecurity and reduce tech failures in financial services.
KeyCorp taps Truist exec as chief risk officer
Mohit Ramani joins the Cleveland-based company next week. His predecessor, Darrin Benhart, will fill a newly created role as Key’s chief regulatory officer.
CFPB releases guidance documents as blueprint for states
The Consumer Financial Protection Bureau released recommendations on how states can beef up enforcement after the Trump administration takes office next week.