Delta rolls back loyalty program changes that irked flyers
Delta is trimming the increase in requirements for various status levels and adding access to its airport lounges. But the shift to using cash spent, not miles flown, in calculating rewards remains in place.
Generative AI won’t transform banking anytime soon
There are good reasons to be skeptical in the face of predictions of a revolution in banking led by generative artificial intelligence.
Why U.S. fintechs favor Singapore as a crypto payments hub
Ripple, Coinbase and Circle all received licenses to operate under the nation’s stablecoin regulations, which offer more clarity than American rules do.
Visa chairman and former CEO Al Kelly to step down from board
Visa said Chairman Al Kelly, the payments giant’s former chief executive officer, will leave the board in January.
As capital regulations loom, M&T continues pause on share buybacks
Worried about the economy and new Fed rules on capital, the bank wants to hang onto its money just in case, CFO Daryl Bible told investors as he outlined second-quarter earnings.
Citizens builds liquidity amid concerns over credit, regulation and war
The Rhode Island-based bank is bolstering its cash position in the face of worries about office loans, stricter capital requirements for regional lenders and the possibility of economic shock from overseas conflicts.
U.S. Bancorp sheds assets to avoid stricter regs, insists it can still grow
The $668 billion-asset company sold investment securities and certain mortgages to avoid more stringent liquidity and other federal requirements for larger banks. Yet CEO Andy Cecere says U.S. Bancorp is “not under an asset cap at all.”
How BayPort Credit Union is educating members about lending options
The “Get My Rate” tool, launched on Sept. 4 in collaboration with SavvyMoney, tells current and prospective members what loan rates they qualify for without adversely affecting their credit scores.
Goldman, BNY Mellon selling $6 billion of debt post-earnings
Goldman is selling $4 billion of fixed-to-floating rate notes in two parts while BNY Mellon is selling $2 billion with a similar structure and durations, according to people with knowledge of the matter.
Auto lender Ally points to signs that credit erosion will stay in check
Charge-offs at the Detroit-based lender rose last quarter, as borrowers had a tougher time keeping up with their car payments. But so far, credit quality is staying within expectations, and company executives don’t anticipate that the rest of the year will be much worse.