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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.
April 16 -
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.
April 15 -
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.
April 12 -
Citigroup's earnings topped analysts' estimates as corporations tapped markets for financing and consumers leaned on credit cards.
April 12 -
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.
April 12 -
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.
April 11 -
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.
April 11 -
Mastercard established a new structure for businesses focused on card acceptance and transaction processing, new payment flows and value-added services. Separately, the Federal Reserve Bank of New York is joining several countries' central banks in a test of tech to support cross-border transactions.
April 10 -
Some online banks that offer high-yield savings accounts are making those products a little less high-yielding. Banks are also shortening the duration of new CDs, hoping that anticipated rate cuts by the Fed will enable them to start paying less to consumers.
April 9 -
As American Express has evolved with new products, its largest digital design team is rethinking how to finesse online and mobile design with the customer at the forefront.
April 9