Sustainable finance is driving a bright green future in Latin America
The next few years will mark the transition of sustainable finance in Latin America through its adolescence and towards maturity.
Mastercard rolls out multi-channel biometrics for banks, merchants
In a bid to help phase out passwords, Mastercard is launching an authentication service that enables consumers to confirm their identities with fingerprint and facial recognition technology when signing in to accounts.
CFPB’s overdraft proposal exempts the small banks that need it most
Small banks appeared to notch a big win with the exemption from the Consumer Financial Protection Bureau’s overdraft proposal. But some experts are questioning the CFPB’s rationale, given research that shows small banks’ overreliance on overdraft revenue.
Synchrony says its consumer credit losses are nearing their peak
The credit card issuer said it’s “cautiously optimistic” about its borrowers’ financial health, with charge-offs expected to rise not much further than pre-pandemic levels. The upbeat outlook contrasts with a key competitor’s guidance of significantly higher losses.
Brex cuts jobs as its customers endure economic pressure
The digital financial services firm announced layoffs Tuesday, with the goal of keeping the company steady until conditions improve for its business users.
Zions confident in credit, despite commercial real estate risk
The Salt Lake City bank said that it doesn’t expect to see major losses, even though the amount of problem loans in its portfolio rose at the end of 2023.
First Horizon navigates TD deal’s demise, but big tech investments loom
The Tennessee-based bank was forced to keep operating on its own after a proposed acquisition was called off. Months later, First Horizon has picked up new customers and improved its profitability, but investors remain cautious amid plans for catch-up spending on technology.
If bank capital has to be higher, let’s regulate nonbanks
Banking regulators’ push for higher capital for the largest banks may very well pass in some form, but before it does there needs to be an articulated plan for tackling the migration of banking activities out of the banking system.
Large regional banks invest in startup deposit network
ModernFi, which helps banks source or offload deposits in reciprocal or one-way arrangements, recently raised a Series A with participation from Huntington Bancshares, First Horizon Corp. and Regions Financial.
Webster Financial predicts loan growth of 5-7% in 2024
Several regional banks have projected minimal growth or even a decline in lending this year. But the Connecticut-based Webster is bullish based on its pipeline of nonoffice commercial real estate, public finance and other credits, CEO John Ciulla says.