Ally starts seeing relief as old loans roll over
The Detroit-based auto lender has been dealing with an imbalance in deposit costs and loan yield since rates rapidly rose. Now, the bank’s fixed-rate loans from before are maturing.
Why Synchrony is cautious on underwriting even as consumers show discipline
The credit card company is seeing fewer customers fall behind on their payments. But with lower-income consumers still being pinched by inflation, Synchrony isn’t loosening its lending standards.
Citizens Financial again builds up reserves to shield against office losses
For at least the fifth consecutive quarter, the Providence, Rhode Island, company increased its allowance for credit losses on general office loans, which continue to be a problem area for banks.
The five fixes to proposed cyber regulations bankers want to see
An analysis of 13 comment letters from the financial industry highlights the most important changes banks want to see to rules proposed by CISA.
Hsu says OCC will update its state preemption standards
Acting Comptroller of the Currency Michael Hsu said the OCC will review its 2020 interpretation of preemption under the Dodd-Frank Act and explore more direct engagement, tailored federal regulation and supervision of nonbank fintechs.
Ex-Goldman Sachs associate gets 28 months in insider trading case
The judge in the case said the former associate needed to go to prison in order to send a message to others in the financial industry.
Waller says Fed getting ‘closer’ to cutting rates, not there yet
Federal Reserve Gov. Christopher Waller said that economic data seems to indicate that the economy will achieve a so-called “soft landing” but said he would like to see additional data before the central bank cuts interest rates.
Morgan Stanley selling $8 billion of bonds as demand soars
Morgan Stanley became the latest big Wall Street bank to tap the U.S. investment-grade market Wednesday after reporting earnings, as strong investor demand helps lenders borrow at lower yields than would have been possible at the start of the month.
Final automated valuation model rule published by 6 regulators
The final rule governing the use of automated valuation models for home assessments is substantially similar to the initial proposal made last June.
Capital One rolls out community benefit plan ahead of merger hearing
The credit card giant says its proposed acquisition of Discover would facilitate a bevy of community development activity and philanthropy. But some public advocacy groups are skeptical.