Fintech

The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.

Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.

New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

The company reported $4.74 billion in net revenue in the first quarter, down 7.3% from a year earlier but exceeding analysts' estimates of $4.71 billion.

JPMorgan Chase and Wells Fargo said the battle for deposits isn't over — a reality denting their ability to earn more interest income. Regional banks will likely report similar pains next week.

Citigroup's earnings topped analysts' estimates as corporations tapped markets for financing and consumers leaned on credit cards.

The company reported net interest income that slightly missed analyst estimates, a sign the benefit of higher interest rates may be waning amid pressure to pay out more to depositors. Costs rose on higher compensation and an FDIC assessment.

New York Community Bancorp took a massive loan-loss provision and slashed its dividend to meet tougher capital and liquidity requirements after rocketing by that asset mark. A half dozen regionals face tough questions about whether they're better prepared than NYCB, which had to be rescued.

Business trade groups are expected to prevail in getting an emergency stay to stop the Consumer Financial Protection Bureau's $8 late fee rule from going into effect on May 14. However, the lawsuit would still have many steps to go after such a decision.