April 19, 2024
Regions Bank Struggles With Expenses; Bullish on Consumer
Two months after laying off 3% of its workforce, the Birmingham, Alabama-based Regions Bank posted disappointing Q1 earnings Friday (April 19). The southeastern regional’s results were driven by higher expenses...
April 19, 2024
The Juggling Act That Can Cost Middle-Market Firms $10 Million
This week, an official with the Financial Conduct Authority (FCA), an agency tasked with overseeing firms and markets in the U.K., compared her job to that of a juggler. “Juggling...
April 18, 2024
Equifax Says 85% of Its New Models Built With AI
Consumer credit bureau Equifax said artificial intelligence (AI) is playing an increasing role in its operations. In announcing the company’s quarterly earnings Thursday (April 18), management noted that 70% of the new models...
April 18, 2024
CEO Says KeyBank Is ‘Back to Playing Offense’
Liquidity continues to dominate Q1 earnings season for banking. Saying his company can finally “play offense,” Cleveland-based KeyBank CEO Chris Gorman presented a solid balance sheet and a cautious take...
April 17, 2024
Fed’s Beige Book Cites Weak Discretionary Spending
Eight times each year the Fed publishes what’s known as the Beige Book — a qualitative take from each of the 12 federal bank districts. The assessments cover everything from...
April 10, 2024
Share of Credit Card Accounts Past Due Hits 12-Year High
A growing share of credit card accounts are past due on their payments. The Federal Reserve Bank of Philadelphia said in a Wednesday (April 10) press release that the share of accounts that...
April 10, 2024
CFPB Could Block Lenders From Charging for Title Insurance
America’s leading consumer watchdog is reportedly weighing a sweeping change to the title insurance industry. As Bloomberg News reported Wednesday (April 10), the Consumer Financial Protection Bureau (CFPB) is considering...
April 09, 2024
Google Introduces Enterprise-Focused AI Updates
Google has debuted several updates for its artificial intelligence (AI) suite for cloud computing clients. “Today, we are announcing that organizations can ground models in Google Search, giving customers access to the combined...
April 05, 2024
Consumers’ Total Outstanding Credit Rose 3.4% in February
Consumers’ total outstanding credit increased by $14.1 billion in February. Revolving credit accounted for $11.3 billion of the increase, while non-revolving credit made up the other $2.9 billion, the Federal...
