U.S. banks are sitting on a $1.03 trillion mountain of credit-card loans. More borrowers are starting to default. Yet lenders know they can't sell souring debt to just any collector.
With a foray into financial services, Amazon.com could disrupt the decades-old card payments system, a move that some say could save the retailer $250 million a year in swipe fees.
The top examiner of Wells Fargo at the Office of the Comptroller of the Currency improperly revealed to the San Francisco bank the existence of a government investigation, according to the Treasury's inspector general.
Top Democratic lawmakers are piling pressure on the Federal Reserve Bank of New York to consider a diverse slate of candidates as the search for its next president enters a critical phase.
As government officials reconsider how best to wind down large financial institutions, they should ensure the banking agencies have flexibility to act without disrupting markets.
Speaking at the Economic Club of New York in Manhattan, PayPal Chief Executive Officer Dan Schulman said cryptocurrencies have a very uncertain future.
The company has agreed to pay $89 million for Premier Commercial Bancorp. The acquisition would significantly increase its branch presence and lending in the Portland area.
Readers opine on the possibility of an Amazon-JPMorgan Chase checking partnership, weigh in on the Crapo bill, applaud plans that would make the CFPB more of a backup regulator and more.
