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Updated: 46 sec ago

JPMorgan's branch expansion: Threat to rivals, or overreach?

6 min 49 sec ago
A plan by the largest U.S. bank to use part of its tax windfall to enter new markets (including Washington and Boston) could become a serious threat for banks of all sizes in those cities — or looked backed upon someday as a pricey over-expansion.
Categories: FINANCIAL NEWS

Umpqua 4Q profits rise on loan growth, tax reform

58 min 46 sec ago
The Oregon company grew commercial and consumer lending in the fourth quarter, even though fee income declined sharply.
Categories: FINANCIAL NEWS

Capital One swings to loss in 4Q following tax hit

Tue, 01/23/2018 - 23:52
Consumer lending was a bright spot, but a series of one-time charges, capped by a writedown on its deferred tax assets, led to a nearly $1 billion loss.
Categories: FINANCIAL NEWS

Senate confirms Powell as Fed chair

Tue, 01/23/2018 - 23:47
Senators overwhelmingly approved Jerome Powell to lead the Federal Reserve Board despite vocal opposition from some Democrats.
Categories: FINANCIAL NEWS

Cost-cutting effort girds Chemical's 4Q profit

Tue, 01/23/2018 - 23:30
The company's earnings, excluding one-time items, increased meaningfully after it cut operating costs.
Categories: FINANCIAL NEWS

Sterling reports 4Q loss after long list of merger expenses

Tue, 01/23/2018 - 23:07
The New York company recorded more than $130 million of expenses tied to its October purchase of Astoria Financial.
Categories: FINANCIAL NEWS

Five challenges facing SoFi's new CEO

Tue, 01/23/2018 - 22:38
Stepping in after co-founder Mike Cagney's resignation, Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.
Categories: FINANCIAL NEWS

Four takeaways from grilling of FDIC, Fed nominees on Hill

Tue, 01/23/2018 - 22:30
Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to join the Federal Reserve Board.
Categories: FINANCIAL NEWS

State Street profit climbs 19% on new asset-servicing contracts

Tue, 01/23/2018 - 22:22
The new tax law took a one-time bite out of fourth-quarter results, but higher rates strengthened yields and new business boosted fee income.
Categories: FINANCIAL NEWS

CFPB drops probe into lender that gave to Mulvaney’s campaigns

Tue, 01/23/2018 - 21:47
The Consumer Financial Protection Bureau appears to have concluded no enforcement action is necessary for World Acceptance Corp., which had been accused of trying to profit from repeat borrowers.
Categories: FINANCIAL NEWS

Huntington puts itself on M&A sidelines

Tue, 01/23/2018 - 21:05
The Ohio company plans to spend 2018 revising its strategic plan to take into account new opportunities and a belief that an economic correction is long overdue.
Categories: FINANCIAL NEWS

‘I am not trying to starve the agency,' CFPB chief reiterates

Tue, 01/23/2018 - 20:05
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, said his zero-funding request for the agency is not meant to drain the agency of resources.
Categories: FINANCIAL NEWS

Court to expedite appeal in CFPB leadership fight

Tue, 01/23/2018 - 18:54
A federal appeals court on Tuesday agreed to expedite the appeal brought by Leandra English, the deputy director of the Consumer Financial Protection Bureau who has sought to unseat acting Director Mick Mulvaney.
Categories: FINANCIAL NEWS

Flagstar takes a fourth quarter loss because of tax reform

Tue, 01/23/2018 - 18:04
Flagstar Bancorp's fourth-quarter results swung to a loss as the company took an $80 million non-cash charge to earnings because of the tax reform bill.
Categories: FINANCIAL NEWS

Wider margins, tax benefits boost 4Q profits at Fifth Third

Tue, 01/23/2018 - 16:40
One-time tax adjustments helped offset ongoing declines in commercial and auto lending at the Cincinnati company.
Categories: FINANCIAL NEWS

Merger and tax expenses ding F.N.B.'s bottom line

Tue, 01/23/2018 - 16:30
The Pittsburgh company reported a noisy fourth quarter that included expenses tied to its purchase of Yadkin Financial and a reduction in the value of its deferred tax assets.
Categories: FINANCIAL NEWS

Park National to enter N.C. with deal for NewDominion Bank

Tue, 01/23/2018 - 16:13
NewDominion, which has completed an improbable turnaround, is the last community bank based in Charlotte, N.C.
Categories: FINANCIAL NEWS

Increased lending, tax benefit lift BankUnited's earnings

Tue, 01/23/2018 - 15:59
The Florida company's fourth-quarter results included double-digit loan growth and a $328 million income tax benefit associated with recently passed tax reform.
Categories: FINANCIAL NEWS

Huntington's profit surges on expense control, lower credit costs

Tue, 01/23/2018 - 15:49
The results also included a large one-time benefit tied to recently passed tax reform.
Categories: FINANCIAL NEWS

Pot banking crackdown is a step backward

Tue, 01/23/2018 - 15:32
Retracting an Obama administration policy that shielded banks servicing marijuana companies threatens financial firms and makes the pot industry too reliant on cash.
Categories: FINANCIAL NEWS

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