The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."
The ruling lets state Attorney General Letitia James continue arguing Citi should have reimbursed customers for wire fraud, though some claims were dismissed.
The e-commerce giant has added payment and credit products, though it faces heavy competition from banks and other tech firms. Also, Stripe's layoffs and other news from the world of payments.
Mercantile Bank Corp. in Grand Rapids achieved a 20% increase in deposits in 2024, an amount that was ample enough to fund robust loan growth and scale back reliance on costlier wholesale funding.
The New York Department of Financial Services has proposed several changes to overdraft fees including banning banks from charging more than three overdraft or nonsufficient funds fees per consumer per day.
The Dallas-based company expects average loan growth to be flat to up 1% from 2024, driven by the ongoing payoffs of commercial real estate loans, executives said.
