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The Tuesday Express: North American financials


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The Tuesday Express: North American financials

*Goldman Sachs Group Inc., Regions Financial Corp., Comerica Inc. and SynovusFinancial Corp. are among the companies reporting second-quarter financialresults today.

*Bank of America Corp. Chairman and CEO Brian Moynihan said on a to discusssecond-quarter results that the company believes it "surely can" growearnings even if interest rates remain low by keeping net interest income andfees stable to growing, while further reducing its expense base.

*Mercantile Bank Corp. Chairman, President and CEO will retire, effectiveJan. 1, 2017. Robert Kaminski Jr. succeeds him as president and CEO that sameday.

*Olympia, Wash.-based Tulip Cooperative Credit Union is with Lakewood,Wash.-based Harborstone Credit Union by Sept. 1, The Olympian reports.

* The GOP platform, released July 18, calls for the of the Glass-Steagall Act."We support reinstating the Glass-Steagall Act of 1933 which prohibitscommercial banks from engaging in high-risk investment," the RepublicanPlatform 2016 read.

*During a speech at the New York Fed yesterday on correspondent bankingrelationships, IMF Managing Director Christine Lagarde expressedconcern over the withdrawal of large banks from smaller countries.

*Executives for the American Council of Life Insurers and the American InsuranceAssociation have requested an additional 45 days, or a minimum of 30days, beyond the comment deadline of Aug. 17 on the Fed's advance notice ofproposed rulemaking on capital requirements for the insurers it regulates asthrift-holding companies.

*Analysts expect life insurers' second-quarter earnings to improve on previousresults, but operating conditionsremain grim as companies struggle through a lower-for-even-longerrate environment.

The Daily Dose: ExpressEdition is updated as of 6:30 a.m. ET. Some external links may require asubscription.