News Topic: American Express

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche. ... Read full article

In her steady advance up the payments industry career ladder, Colleen Taylor has pursued a consistent theme of taking on challenging roles at pivotal moments, which has propelled her trajectory. ... Read full article

American Express hired Taylor to oversee its efforts to entice more U.S. merchants to accept the firm's cards. ... Read full article

When customers contact Wells Fargo, its artificial intelligence system goes to work; what American Express is getting with it purchase of Kabbage; Fannie, Freddie refi fee will wipe out millions in mortgage profits; and more from this week's most-read ... Read full article

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting. ... Read full article

American Express Co. is acquiring the teams and technology behind the online lender Kabbage Inc. as the credit-card giant seeks to provide more loans and other services to small-business owners. ... Read full article

The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks. ... Read full article

Borrowers say getting the loans forgiven is just as complicated as obtaining the money; payment companies are holding some merchant funds in reserve as chargebacks spike. ... Read full article

The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the ... Read full article

American Express began adopting cloud computing a couple of years ago and has leaned hard on the technology to help front-line and corporate employees work at home during the coronavirus crisis, its global head of infrastructure says. ... Read full article

American Express Chief Executive Steve Squeri said a majority of the company’s employees will work remotely through 2020 as it seeks to slow the spread of the coronavirus. ... Read full article

Many banks are slashing their spending. Others are changing their messaging strategies. And those that banks partner with pro sports teams are stuck in limbo, since it remains unclear when games will resume. ... Read full article

More companies will be eligible to apply for the four-year loans, including those with high debt loads; four-year loans will be offered to European banks with rates as low as minus 1% as the eurozone economy tanks. ... Read full article

Ally, Synchrony, Discover, Sallie Mae and Navient are the other lenders the ratings firm downgraded, citing the impact that the coronavirus crisis is having on their revenues and profits. ... Read full article

"We're now in a different world," Stephen Squeri, chairman and CEO of Amex, said during the card brand's first-quarter earnings call. ... Read full article

Citi is beefing up leadership in its consumer card lending operations by recruiting Chase exec Pam Habner — credited with engineering the success of Chase’s Sapphire Reserve card — and former Citi exec Chris Fred, who will return after several months ... Read full article

The Supreme Court will hear arguments on the agency’s structure; the company, desperate after losing Costco’s business, allegedly pressured and misled applicants. ... Read full article

With health organizations warning of a global outbreak, banks are starting to assess the risks to their bottom lines. ... Read full article