Polo Rocha is a Washington D.C.-based reporter who covers consumer finance and national banking trends. He previously covered the Federal Reserve at S&P Global Market Intelligence and state politics at WisPolitics.com. He graduated from the University of Wisconsin-Madison and has a master's in finance degree from Johns Hopkins University.
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The lawsuit settlement clears a hurdle for the credit card company's deal with Capital One, which has vowed to address Discover's compliance shortcomings. A public hearing on the merger is scheduled for July 19.
By Polo RochaJuly 5 -
Maryland-based Forbright Bank, which is led by a onetime Democratic presidential candidate, relied extensively on brokered deposits as it grew after a 2021 rebranding. The bank says it has made changes in response to regulators' concerns.
By Polo RochaJuly 2 -
Large and regional banks again proved their resiliency in the Fed's annual exams. But analysts noted that a few lenders faced some negative surprises — a development that may scuttle investor hopes for share buybacks by those banks.
By Polo RochaJune 27 -
Later this week, the Federal Reserve will release the results of its annual check-up on larger banks' balance sheets. Experts say there are always surprises, but that pending capital rules may have a bigger impact than the stress-test results on banks' dividend and buyback decisions.
June 24 -
The CEO and co-founder of Tyfone is one of American Banker's Innovators of the Year.
By Polo RochaJune 21 -
The Honolulu bank is raising $165 million through depositary shares, a move that two observers said would help boost its below-average leverage ratio.
By Polo RochaJune 20 -
The collateral that supports commercial and industrial loans is generally weaker than in commercial real estate, where banks can take over a devalued office building. Analysts say the loans merit a closer look as commercial bankruptcies rise.
By Polo RochaJune 19 -
PNC has cut its credit card late fees to $8, and Wells Fargo has eliminated the charges on one new card. The moves signal that issuers are already adjusting to a CFPB rule that's currently on hold amid a court challenge.
By Polo RochaJune 13 -
As high interest rates continue weighing on banks' balance sheets, some are selling branches to real estate firms and leasing them back. The strategy is helping lenders that want to restructure their underwater bond portfolios.
By Polo RochaJune 13 -
Late payments, which have been on a steady rise since 2021, are now climbing at a slower rate or even declining at some major card issuers. Risks remain, but there's 'reason to be cautiously optimistic," one analyst said.
By Polo RochaJune 10