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After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.
February 16
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The two banks are now targeting May 27, three months later than their previous goal. The transaction, which would create a top-six U.S. bank by asset size, was originally expected to be completed last fall.
February 10
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The bank was already mulling headcount and compensation reductions in early September.
February 9
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The North Carolina bank's new financing program will allow electric car buyers to include the cost of an at-home charging station in their auto loan.
February 8
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After soured loans rose above the private student lender's expectations in 2022, its stock price fell 16% on Thursday. One analyst wrote that "persistent credit issues have damaged management's credibility."
February 3
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In a reversal from five years ago, six of the eight biggest U.S. banks by branch count now offer the loans, which observers see as safer alternatives to payday loans.
February 1
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Indexes show heightened expectations for a recession and souring loans. But executives are upbeat about middle-market businesses and overall job growth.
January 30
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Repo markets and the bank deposit business, in particular, would be upended if the U.S. were to default on its debt, experts say.
January 27
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The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.
January 26
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Members of the American Bankers Association's Economic Advisory Committee expect gross domestic product to stall in 2023. Other surveys show a modest contraction. Lenders say sentiment among their borrowers also points to a slight slowdown.
January 24
