Global consultancy Kearney has today released the sixteenth edition of its annual European Retail Banking Radar, which tracks the performance of close to 90 retail banks across 21 European markets. The study found that higher interest rates fueled a record year for retail banks. However, it also warned that banks should be leveraging their current […]
Governor JB Pritzker (D-IL) said Sunday on CNN's "State of the Union" that he was concerned about a presidential debate because former President Donald Trump "lies and lies and lies." | Clips
The results from the nation's second-largest lender offer the latest example of how even the biggest banks are increasingly challenged by high interest rates.
BofA is among the large lenders, including rival JPMorgan, that are weighing the potential for the U.S. Federal Reserve to cut interest rates this year. The move could crimp banks' income from interest payments, but could potentially spur economy activity and borrower demand. BofA's net interest income (NII) -- the difference between what it earns on loans and pays for deposits -- slid 3% to $14 billion in the quarter due to higher deposit costs and modest loan growth.
In 2010, Noah Wilson-Rich was juggling several jobs while earning his PhD in biology at Tufts University: He taught classes at several nearby universities, and one day a week, tended bar at a cafe in the lobby of the Hult International Business School. On one of his shifts, he overheard customers discussing a competition for entrepreneurs. The next day, he entered, pitching a company that would gather insect health data at beehives. “They were like, ‘The bartender won?’ said Wilson-Rich....
M&T Bank posted a 25% drop in first-quarter profit on Monday as higher deposit costs reduced its interest income, and a turmoil in the commercial real estate (CRE) industry prompted it to set aside more rainy-day funds. Regional lenders have had to pay higher interest rates on deposits to prevent customers from fleeing to higher-yielding alternatives, such as money market funds. Buffalo, New York-based M&T Bank's net interest income - the difference between what a bank earns on loans and pays...
Deutsche Bank reported first-quarter earnings on Thursday.
See one of the final pieces of art by the legendary manga author
The fearmongering I'm seeing from abortion advocates -- that pro-life protections are the reason behind heart-breaking stories -- has only gotten worse.
PONCHATOULA - One woman says her husband's license is suspended over a late fee that occurred while paying off an installment plan with the Louisiana Office of Motor Vehicles.Maddison Aikman says their trouble started when they noticed fraudulent charges on their debit card in January 2023. It was the same debit cart being used to pay off a balance owed to the OMV for lapsed insurance. After canceling the card, the OMV attempted to debit their account a ever since then, it's been a battle to...
Without any direction from Congress, the Consumer Financial Protection Bureau (CFPB) finalized a rule that (1) changes the safe harbor dollar amount for late fees from $30, or $41 for subsequent late payment violations, to a strict threshold of $8 while prohibiting any higher amount for future delinquencies; and (2) removes the safe harbor late […]