U.S. Banks’ Profits Sink 69% to $18.5B in Q1
Banks diverted earnings to reserves for "newly risky loans as the coronavirus tanked credit health and plunged the U.S. into a recession."
Square Analysts React to FDIC’s Conditional Banking License Approval
The fintech company began its bid for a banking charter over two years ago.
Banks’ Expenses Growing, But Not Their Incomes
The formula for banks' lower profits: three rate cuts by the Fed, yield-curve inversions, and higher salary and benefits costs.
Fintech Varo Wins FDIC Approval To Take Deposits
The company said the approval was “a significant step in [its] application process for a national bank charter.”
U.S. Banks’ Earnings Drop 7.3% to $57B in Q3
It was the first quarterly decline in net income since late 2018 but the industry generated nearly $100 billion in new loans.
Bank Profits Surge 8.7% to $60.7 Billion in Q1
Boosted by a 6% gain in net interest income, the industry's strong Q1 performance followed a record year in 2018.
Banker Confidence Levels Are Slipping
Despite a strong fourth quarter, many U.S. bankers foresee a worsening economy and higher funding costs.
Banks’ Balance Sheets: Strong Enough to Absorb a Credit Shock?
Quarterly U.S. bank earnings show balance sheets getting stronger; business loans still performing well.
GAO Report Finds Cybersecurity Failings
The SEC, IRS, and FDIC were among the agencies cited for not adequately addressing security vulnerabilities.
Banks Making a Bundle
“The current economic expansion is the second longest on record, and the nation’s banks are stronger as a result," said the FDIC chair.
Advice to CFOs: Strike While Bankers Are Optimistic
Here are three reasons why your company's chances of getting a loan may be better than they have been in awhile.