Ally's Auto Credit Improves, Despite Tough Backdrop
Ally Financial reported a stronger first‑quarter auto‑loan portfolio despite higher gas prices and broader consumer affordability pressures. 60‑plus‑day delinquencies fell $10 million year‑over‑year to $842 million and net charge‑offs dropped $21 million to $424 million. Loan originations rose 13% to $11.5 billion, driving total revenue up 36% and net income to $319 million, reversing a loss from the prior year. The bank’s net interest margin expanded to 3.48%, beating analysts’ earnings per‑share expectations.
Why Swift Is Pushing New Standards for Cross-Border Payments
Swift is introducing a new retail cross‑border payment framework that promises transparent fees, real‑time FX rates, and predictable processing times. The initiative, backed by more than 25 banks across 11 corridors, aims to give consumers the same experience they enjoy...
IMF Urges Banks to Share Data to Fight Fraud
The International Monetary Fund’s March working paper warns that U.S. banks’ reluctance to share cyber‑fraud data hampers the sector’s ability to combat illicit finance. The study shows U.S. institutions accounted for 46% of global cybersecurity incidents from 2014‑2023, and 87%...
Truist Sets Higher Profit Target, Says Momentum Is Growing
Truist Financial Corp. announced a new profitability goal of 16%‑18% return on tangible common equity over the next three to five years, aligning it with regional peers. The bank lifted its 2026 share‑buyback plan to $5 billion, up from $4 billion earlier...
The More Things Change: Bank CEOs on Why They're Adding Branches
Despite a net loss of roughly 400 U.S. bank branches in 2025, the nation’s largest banks are still expanding their physical footprints. JPMorgan Chase plans to add more than 500 new branches by 2027, leveraging part of its $40 billion excess...
OMB's Vought: CDFIs Funded 'Woke' Programs
Office of Management and Budget Director Russell Vought urged cuts to the Community Development Financial Institutions (CDFI) Fund, accusing the program of financing “woke” and DEI‑focused projects. He argued that CDFI loans lack traditional ability‑to‑pay underwriting, raising safety‑and‑soundness concerns. The...
'AI Is Our Friend': Bank CEOs Weigh the Tech's Risks, Rewards
Bank CEOs across the major U.S. lenders are publicly embracing artificial intelligence while flagging cyber‑risk concerns. Morgan Stanley’s Ted Pick highlighted the use of Anthropic’s Claude Mythos beta, and Citi announced it will unveil a detailed AI roadmap at its May 7...
Palo Alto Networks Founder Seeks to Acquire Calif. Bank
Palo Alto Networks founder Nir Zuk has filed a Change‑in‑Bank‑Control application to acquire voting shares in Liberty Bank, a California‑based commercial bank with roughly $442 million in assets. The move follows Zuk’s recent foray into AI with eOS and mirrors a...
Visa Extends Its On-Chain Ambitions
Visa is deepening its blockchain footprint by expanding its partnership with Taiwan‑based OwlTing Group and launching a validator node on the Tempo blockchain. The Visa Direct app will integrate with OwlPay, enabling USDC transactions, gift‑card purchases and cross‑border remittances. By...
Jumbo Loans Are Creeping Into Non-QM, HELOC Securities
Bank of America Securities reports that loans of $1 million or more are increasingly showing up in private‑label residential mortgage‑backed securities, even outside the traditional jumbo market. The average balance for second‑lien and HELOC securitizations rose from $88,000 to $95,000, while...
How Ally Hit Its Target for Sponsoring Women's Sports
Ally Financial announced it achieved gender‑parity in sports sponsorship a full year ahead of its five‑year pledge, shifting its spend from a 90‑10 split to an even 50‑50 balance between 2022 and 2025. The bank’s accelerated investment landed its logo...
Chase, Wells Mortgage Slump: What It Means for Non-Banks
Quarter‑to‑quarter mortgage production at JPMorgan Chase and Wells Fargo plunged, falling roughly 2.5 times faster than the Mortgage Bankers Association’s industry forecast. Chase’s first‑quarter volume slipped to $13.7 billion, while Wells Fargo’s fell to $6.3 billion, both reflecting weaker retail origination and higher rates. Despite...
FHA's Cassidy on Leave, Ginnie Mae's Gormley Filling In
Federal Housing Administration Commissioner Frank Cassidy has taken a family‑related leave that will last at least through the end of April. Ginnie Mae President Joseph Gormley has stepped in as acting FHA commissioner, leveraging his prior experience as deputy assistant...
Bank Earnings Reflect the Fog of War, the Fog of AI
Goldman Sachs opened Q1 earnings season, setting the tone for a wave of bank reports. The article highlights three key themes: the lingering impact of the U.S.-Israel-Iran conflict, rapid AI developments exemplified by Anthropic’s Mythos tool, and growing concerns over...
On the Day of a Would-Be Deadline, Open Banking Is in Flux
April 1, 2026 marked the original deadline for the CFPB’s Section 1033 open‑banking mandate, but a federal injunction froze enforcement, leaving the rule in legal limbo. Major banks have nevertheless accelerated API partnerships with aggregators such as Plaid to meet consumer demand and...