CEOs have been telling investors that if the Fed continues to cut interest rates, they will lower rates they are paying on deposits to minimize the hit to net interest margins. The danger is that if they lower rates too quickly or by too much, big depositors could go elsewhere.
Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in equity funding.
The Pittsburgh company is not interested in bank acquisitions, CEO Demchak says; why Citi, Wells, JPMorgan are seeing a spike in API calls; FHFA's Mark Calabria details next steps on GSE reform; and more from this week's most-read stories.
The lawmakers, including Sens. Sherrod Brown and Elizabeth Warren, sent the bank a letter focusing on customers' difficulty enrolling in credit monitoring and identity protection services.
The company still intends to shut down its data centers next year even as the recent hacking that exposed the data of some 100 million people raised questions about its aggressive embrace of cloud computing.
At the same time, consumers hold banks to tougher disclosure standards than government agencies, health care organizations and retailers, according to Experian.
A J.D. Power official says supplemental benefits — many centered on travel cards — need to be pared down. His comments followed the company’s release of survey data that showed these hard-to-understand benefits were a drag on customer satisfaction.
United, which helps retirement-age savers find the best ways to manage their wealth, is Capital One's answer to a flurry of similar deals made by rivals.
From housing finance to Facebook’s crypto plans, moderators questioning the presidential candidates in Texas next month would have no shortage of financial policy topics from which to pick.
