Fintech

The regional firm, whose parent is the 10th largest bank in the world by market capitalization, is eager to pitch top advisors seeking stability. At the same time, it's ramping up a major branding campaign with Major League Soccer and Apple to woo next-generation clients.

The regional bank started making moves to protect deposits last year, which prevented steeper declines during a volatile first quarter, CEO Tim Spence says.

Despite slower new-account growth, the card network had healthy overall sales, loan growth and deposit inflows in the first quarter. The performance gave credence to its ambitions to become a digital banking giant.

The card network says it is prepared to act on any new demand created by the recent banking crisis or possible economic downturn even though it reported slower growth in small-merchant card spending in the first quarter.

Reacting to a sharp uptick in charge-offs, Synchrony more than doubled its provision for credit losses during the first quarter to account for further shocks along with healthy loan-portfolio growth as more consumers revolve credit card balances.

Executives and financial strategists are considering derivatives as a hedge against rising interest rates.

Wealth management lifted the firm's bottom line, as the unit's revenues rose 11% over the past year and it hauled in assets across multiple channels.

In an open letter to National Credit Union Administration Chairman Todd Harper, NAFCU's B. Dan Berger calls for the 89-year-old interest rate ceiling to be reconsidered.

More credit unions are diversifying their investments and accessing federal funding from multiple sources to shore up against risk.

The amount of U.S. junk bonds has fallen 11% from its peak in October 2021 to $1.41 trillion, according to a Bloomberg index tracking corporate high-yield debt.