While brick-and-mortar bank branches have been closing for years, those located within supermarkets are reportedly shutting at a rate that is seven times higher than that of other branches. American banks closed 10.7% of their in-store branches in the year ended June 30, compared to...
America’s regional banks are reportedly hoping to get healthier by getting smaller. As The Wall Street Journal (WSJ) reported Monday (Oct. 23), these lenders are scaling back following a quarter that saw banks like KeyCorp, Truist and Citizens Financial record double-digit declines in profit. For example, PNC is planning layoffs, while Citizens has said...
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 eventually need to offer depositors higher rates, which would eat away at profits on the...
Banking juggernaut J.P. Morgan Chase reported earnings on Friday (Oct. 13) that showed resilient card spending, but a drawdown of deposits and a gradual uptick in charge-offs. Earnings supplementals show that within the Consumer Banking segment, debit and credit sales volumes were up 8%, to $426.3...
January 17, 2020
With Retail’s Big Show in New York, earnings season kicking off and banks reporting on the State of the State 2019, there was no shortage of headlines this week. Yet, even in a big week, there are standouts — Visa bought Plaid, Goldman Sachs’ Marcus hit $60 billion in deposits and 75 percent of small- […]
October 20, 2017
What will it take to save the trees? To cut out the cutting of checks? In a long-running series, Ingo Money CEO Drew Edwards has delved with PYMNTS’ Karen Webster...
July 13, 2017
Cash is one of the more underrated players in the payments and commerce ecosystem. It’s often declared dead, innovators of all stripes are constantly declaring war on it and it is...
April 20, 2017
Ingo Money CEO Drew Edwards told an audience at Innovation Project 2017 that he sees push payments as a massive opportunity for consumers and corporates alike. The technology will dramatically...
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 […]
October 27, 2023
While brick-and-mortar bank branches have been closing for years, those located within supermarkets are reportedly shutting at a rate that is seven times higher than that of other branches. American...
October 23, 2023
America’s regional banks are reportedly hoping to get healthier by getting smaller. As The Wall Street Journal (WSJ) reported Monday (Oct. 23), these lenders are scaling back following a quarter that saw...
October 15, 2023
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...
