Regions Financial is shortening the tenors of certificates of deposits (CDs). This is part of an effort by the bank to manage deposit costs in preparation for the Federal Reserve to start cutting interest rates, Seeking Alpha reported Wednesday (Feb. 21), citing comments made by Regions Financial Chief...
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 Fargo and Bank of America are expected to report a combined $5.3 billion in net...
April 28, 2024
For America’s biggest banks, deposit costs are exceeding interest income. That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted in a report Sunday (April 28) on the phenomenon. Among the lenders in question is Wells Fargo, which paid almost $594 million more in fees to depositors […]
February 21, 2024
Regions Financial is shortening the tenors of certificates of deposits (CDs). This is part of an effort by the bank to manage deposit costs in preparation for the Federal Reserve to...
October 11, 2023
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...
