News Topic: Checking

Several wealth management firms, including Marcus by Goldman Sachs and Wealthfront, have launched banking products to complement their investment services. ... Read full article

The bank will reduce its footprint to its German roots; U.S. banks are offering cash bonuses to keep customers from fleeing to higher-yielding accounts. ... Read full article

New York Attorney General Letitia James said there is “no basis to believe” that the overdraft rule has harmed small banks and credits unions. ... Read full article

The move figures to generate more low-cost funding for the firm’s consumer lending businesses without sacrificing substantial revenue. ... Read full article

The agency launched a review to gauge whether the regulation requiring consumers to opt in to overdraft protection “should be amended or rescinded” to minimize the effects on smaller financial institutions. ... Read full article

The promotion of “insured” accounts by nonbanks and fintechs is a worrying trend, because it could leave customers falsely believing their accounts are just as safe as FDIC-insured ones. ... Read full article

Robinhood Financial has rebranded its service, deleted tweets about its launch and scrubbed the page from its website. ... Read full article

Robinhood Financial, one of the most valuable private companies in the financial technology space, is rolling out its take on the traditional bank account starting on Thursday. ... Read full article

The agency’s flawed methodology for determining interest rate caps on certain accounts poses risks for banks offering free, low-deposit checking and the financial system more broadly. ... Read full article

For $29 a month, MoneyLion customers will receive a checking account with no minimum balance requirement and will have access to a large a network of ATMs, as well as low-interest personal loans and financial advice. ... Read full article

The e-commerce giant is muscling its way into a number of businesses that banks have long dominated. ... Read full article

As with most of the company's inventions, an Amazon checking account would more deeply embed customers into an Amazon ecosystem that provides an endless flow of data and efficiencies. ... Read full article

The online retailer wants to offer customers checking accounts but won’t become a bank; Quarles says the rule is too complex and “not working well.” ... Read full article

News that Amazon is courting banks to help it offer its own branded checking account raises major questions about which banks could be helped or hurt, who would control the relationship and how Amazon's partner(s) would make money. ... Read full article

The negotiations between Amazon and big banks like JPMorgan Chase and Capital One to offer a checking-account-like product pose significant questions for regulators about the e-commerce giant pushing further into the banking space. ... Read full article

Amazon.com Inc. is in talks with JPMorgan Chase & Co. and Capital One Financial Corp. about offering the tech giant’s customers a product similar to a checking account. ... Read full article

Reps. Elijah Cummings and Jimmy Gomez, both Democrats, questioned why B of A would stop offering accounts that are popular with low-income consumers when it stands to reap huge financial benefits from recently passed tax cuts. ... Read full article

Bank will add 400 branches and boost mortgage lending; the company attempts first acquisition since it nearly failed during the financial crisis. ... Read full article