October 17, 2023
Bank Earnings Continue to Demonstrate Digital Shift Also Includes Branches
Earnings season is less than a week old. But with some of the largest names in the industry having already reported, the digital shift and mobile banking remain trends. In...
October 15, 2023
Big Banks Weigh Better Rates for Depositors
America’s largest banks say their profits from high interest rates could soon take a hit. As the Financial Times (FT) reported Saturday (Oct. 14), larger lenders are telling investors that they’ll...
October 14, 2023
How Caviar Became Everyone’s Catch of the Day
Caviar is now mainstream. Once considered a luxury reserved for the elite, caviar exceeded $100 million in U.S. sales in 2022 and is expected to reach $465 million in 2023,...
October 13, 2023
PNC Financial Group Begins Reducing Workforce by 4%
PNC Financial Group began staff reductions that will decrease its workforce by 4%. The move is expected to reduce the company’s 2024 expenses by $325 million at a time when...
October 13, 2023
Wells Fargo Expects Continued Slowing of the Economy
Wells Fargo saw net charge-offs increase, loan demand decrease and average deposits decline during the third quarter. At the same time, consumer spending remained strong, the bank said Friday (Oct. 13)...
October 12, 2023
Wells Fargo Expands Availability of Digital Financial Advice Services
Wells Fargo has expanded the availability of its personalized digital financial advice and planning services, known as LifeSync, to all its consumer customers. LifeSync was initially launched earlier this year for Wealth and...
October 11, 2023
US Banks Brace for Surge in Bad Debt Write-Offs
The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan Chase & Co., Citigroup, Wells...
October 11, 2023
CFPB Says Surprise Overdraft and NSF Fees Lead to $120...
Surprise overdraft and nonsufficient funds (NSF) fees account for a significant portion of the refunds to consumers by companies announced Wednesday (Oct. 11) by the Consumer Financial Protection Bureau (CFPB). ...
October 09, 2023
Slowing Loan Growth Expected to Squeeze Big US Banks’ Profits
The big U.S. banks are reportedly facing a slowdown in lending growth due to rising interest rates, and it is expected to hurt their profits. Net interest income, a key...
Seventy-five percent of car buyers favor brands that offer rewards, with a similar percentage (74%) favoring digital payments. In the latest edition of the “Expanding Payments Choice Playbook Series,” a collaboration with Onbe, PYMNTS examines the critical role digital rewards and incentives now play in facilitating a true end-to-end digital car-buying experience.
