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Latest reporting and analysis tagged with banking.
Wells Fargo's net income rose 5.5% to $5.4 billion in 2025, though severance costs impacted results. CEO Charlie Scharf said the bank can now compete on a level playing field after the Fed's asset cap was removed.
President Trump calls for a one-year 10% cap on credit card rates, drawing criticism from bankers who warn it could restrict credit access. Details are expected in his upcoming Davos speech.
Savings account rates have fallen since 2024 Federal Reserve cuts, with top rates around 4% APY from banks like SoFi, Barclays, and Valley Direct as of January 15, 2026.
Money market account rates are still high despite recent Federal Reserve rate cuts, with top accounts paying over 4% APY. The national average stands at 0.58%.
CD rates remain high despite recent Federal Reserve rate cuts, with Marcus by Goldman Sachs offering 4% APY on a 1-year CD. Rates are expected to decline further in 2026.
Metamora State Bank, a $98 million-asset community bank in Ohio, has changed its name to Bank419. CEO Kathleen Fischer said the new name reflects a commitment to the wider region, referencing the area code 419. The rebranding, planned for two years, aims to signal growth while honoring the bank's 80-year legacy.
Top US bank executives oppose President Trump's proposed 10% cap on credit card interest rates, warning it would harm low-income consumers, restrict credit, and impact bank earnings.
The fourth quarter earnings season started with reports from Delta Air Lines and JPMorgan Chase. Bank executives warned a proposed 10% credit card APR cap could restrict consumer credit access.
Several banks and credit unions are currently offering high-yield savings accounts with APYs of 4% or more, providing savers with alternatives to the national average rate of 0.39%.