Banking

Rows of metal safe deposit boxes lining a bank vault, several of the drawers pulled open.

The Fed Will Now Show Banks the Stress Test Before They Sit It. One Governor Says That Is the Problem.

The Federal Reserve finalised two rules on Wednesday that put its stress test scenarios and models out for public comment every year and average banks' stress capital buffers over two tests. The Board says the changes should cut year-to-year swings in those requirements by about half without materially changing total capital. Governor Michael Barr says they will let banks optimise for the test instead of the risk.

By Daniel Okafor October 1, 2026

A pair of hands holding a smartphone, the screen showing a banking app with a currency amount and a transfer confirmation button.

The Numbers

A Student Loan Refinancer Now Holds the 47th Largest Deposit Base in America

SoFi Bank held $46.8bn of deposits on 30 June, placing it 47th in the FDIC's annual Summary of Deposits. It is the first bank with fintech origins to enter the top 50. The deposits roughly doubled in two years, and the reason is not the rate paid to savers.

By Daniel Okafor September 23, 2026

The Numbers

The Delinquency Rate Improved. The Level Is Still the Worst in Fifteen Years.

Credit card balances 90 or more days delinquent fell 0.2 points to 12.9 percent in the second quarter. They were 7.6 percent in late 2022. A number can improve and remain the worst reading in fifteen years, and which of those two facts gets reported depends entirely on which series somebody picked up.

By Daniel Okafor September 8, 2026

Marine Drive, Mumbai, on a clear morning.

The Long View

The Terms Were Fixed All Along. The Surprise Was That They Ended.

HDFC Bank's chief executive will not seek reappointment when his term expires in two months. Kotak Mahindra's declined an extension in June, with his three-year term ending on 31 December. Both were described as surprises. Both end dates have been known since the day each man started.

By Cory Chamberlain September 5, 2026

Entrance to a Caixa Geral de Depósitos bank branch in Benfica, Lisbon, framed by trees, railings and urban street art in August 2026. // Entrada de uma agência da Caixa Geral de Depósitos em Benfica, Lisboa, enquadrada por árvores, corrimões e arte urbana em agosto de 2026.

Money

Overdraft Revenue Went Away. The Fee Did Not

Overdraft charges have fallen sharply, which is a real gain for the households that paid them. The cost of a checking account did not fall, because it moved somewhere less visible.

By Daniel Okafor August 25, 2026

A small business owner standing at a wooden counter in her shop

Money

Small Businesses Discover Treasury Management

Higher rates taught small companies that idle cash has a price. The habits they built are outlasting the rates that created them.

By Daniel Okafor August 13, 2026

An older couple reviewing their accounts together on a laptop at home

Money

Savers Are Finally Being Paid, and They Are Acting Like It

After years of earning nothing, household savers have become rate shoppers, and the deposit market is behaving like a market again.

By Cory Chamberlain August 3, 2026

The exterior of a regional bank building

Money

Regional Banks Turn to Software to Defend Deposits

Facing depositors who can move money in seconds, smaller banks are investing in retention tooling that watches balances the way retailers watch shopping carts.

By Daniel Okafor August 1, 2026

Banking

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