How North Carolina colonized Florida’s banking industry
Just as two North Carolina universities have dominated college basketball in recent decades, two banks from the Tar Heel state have dominated much of U.S. banking since 1990, turning Florida, especially, into a “banking colony.”
U.S. Bank launches spend management app for small businesses
More than 1.4 million small businesses bank with U.S. Bank, according to the company, and it’s now offering help with managing expenses and accepting payments.
M&T Bank earnings rise but miss analysts’ expectations
The Buffalo, New York bank’s loans edged higher in the first quarter while deposits fell 1.7% from a year ago. The bank also lowered its full-year outlook for loans and deposits.
Goldman Sachs stock traders ride markets to record quarter
Equity-trading revenue rose 27% from a year earlier to $4.19 billion for the first three months of the year.
Trump’s deregulation push risks dangerous precedents
Two recent executive orders could speed up the administration’s push to rollback regulations, but they also undermine the notice-and-comment rulemaking process.
How sports is paving a path for ‘invisible payments’
At the Los Angeles Clippers’ Intuit Dome, technology developers hope to forge transaction habits that can be replicated elsewhere.
CFPB looks to rescind nonbank registry, ignore compliance
The Consumer Financial Protection Bureau said it will not enforce or supervise nonbank financial firms that miss upcoming compliance deadlines for the nonbank registry of repeat offenders.
Wells Fargo benefits from improved credit quality
Lower credit costs and better expense control helped the San Francisco-based titan offset the impact of lighter-than-expected revenue.
Two SoCal credit unions plan to merge into $13B institution
The combination of San Diego County Credit Union and California Coast Credit Union would create the 16th largest credit union in the United States.
IBM’s latest mainframe comes with AI accelerators
The new z17 mainframe, unveiled in a launch event this week, also comes with quantum-resistant encryption.