Federal relief efforts have minimized loan losses so far, but risks remain in credit card, auto and business lending. Many borrowers will need another lifeline to stay afloat until the economy rebounds, CEO Jamie Dimon says. ... Read full article
The Pittsburgh company intends to continue adding commercial offices and retail branches in markets it had been eyeing before agreeing to buy BBVA USA for $11.6 billion. ... Read full article
It is the 18th state to pass a law imposing rate caps on all consumer loans, including payday and car title loans. ... Read full article
In these uncertain times, strengthening relationships with clients is the one thing front-line bankers can control. ... Read full article
Goldman Sachs Group Inc. signed a deal to take over General Motors' credit card portfolio. ... Read full article
However, it beat analysts' estimates thanks to a big reserve release, a smaller-than-expected rise in expenses and other factors. ... Read full article
The California Democrat known for sharp questioning of executives was turned down for a waiver to serve on the Financial Services Committee by Speaker Nancy Pelosi, D-Calif., The Hill reported Thursday. ... Read full article
Sigal Zarmi, who took on broader duties this fall, is modernizing the company's technological infrastructure and using reverse mentoring to combat bias in the workplace. ... Read full article
Some companies cut off the flow of cash to insurrectionists, while others put a halt to their political spending. Their actions came quickly after the events of Jan. 6. ... Read full article
In placing the $6.6 million-asset institution in conservatorship, the regulator has taken charge of two credit unions in just the first two weeks of the year. ... Read full article
Fourth-quarter results were hurt by restructuring and customer-remediation charges, but the release of credit-loss reserves and the sale of a student-lending business gave an unexpected boost to net income. ... Read full article
The action is expected to be challenged by banks and the Biden Administration; the Fed chair says the central bank has no plans to raise rates or tighten monetary anytime soon. ... Read full article
Strong trading and investment banking fees also contributed to a 42% increase in profit to $12.1 billion in the fourth quarter. ... Read full article
Issued in the final days of the Trump administration, the regulation has united banks, gun-control advocates and environmentalists in opposition. It could be blocked by Congress or a comptroller chosen by the new president. ... Read full article
The FHFA and Treasury will allow Fannie Mae and Freddie Mac to hold more capital as part of the Trump administration's plans to release the companies from conservatorship. But it is unclear if the incoming Biden administration will keep the mortgage ... Read full article
The National Credit Union Administration and the Consumer Financial Protection Bureau will hold strategy sessions and share information tied to consumer protections at institutions with more than $10 billion of assets. ... Read full article
In a party-line vote, the agency issued a proposal that would redefine a "complex" credit union. ... Read full article
Diane Arnold, who will succeed the retiring Gregory Shook in July, has been with the bank since 2002. She is currently the chief lending officer. ... Read full article
Most consumers expect to be offered a variety of digital payment options in stores in a post-COVID-19 world, and small and midsize business believe that change will be permanent, a Visa study finds. ... Read full article
A sponsorship deal between the regional bank and the league will emphasize economic empowerment and financial education. It's a good example of how corporations increasingly seek to associate their brands with a cause or purpose, experts say. ... Read full article
