Consumer banking

Warren wants answers from Wells Fargo on closed-account fees

08/21/19

After a news report said the bank kept alive accounts customers thought they had closed, Sen. Elizabeth Warren told acting CEO Allen Parker in a letter that Wells is "still fundamentally broken."

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Postal banking won’t deliver for USPS

08/20/19

Proponents of a plan to get the Postal Service more involved in banking say it would restore profitability. Actually it would lose more money.

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BofA’s CEO says the biggest recession risk is the fear of recession

08/16/19

Bank of America’s customers spent $1.9 trillion this year through Aug. 12, an increase of 5.9% from a year earlier — a sign that the economy, driven by the consumer, remains strong, Brian Moynihan said.

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HSBC USA launches digital lending platform, admits to playing catch-up

08/14/19

The LendingClubs and SoFis of the world have a big head start, but HSBC's U.S. unit says its partnership with the fintech Avant will help it close the gap in online personal loans.

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Your data's just sitting there. Machine learning can change that.

08/13/19

The technology can help banks get the most out of the vast amounts of information at their disposal.

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Done right, regulatory sandboxes can promote competition

08/08/19

Regulatory sandboxes can create a lot of opportunity for the winners but inadvertently put losers at a competitive disadvantage.

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State regulators scrutinize payroll advance firms

08/07/19

New York and 10 other states are looking into whether companies in the fast-growing sector are violating payday lending laws.

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Revenue-strapped lenders take another look at unbanked customers

08/05/19

With margins under pressure and competition intensifying, a number of community banks are zeroing in on underserved markets.

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Fox agrees to buy fintech for $265 million

08/05/19

Credible Labs, which lets consumers shop for the best rates on student loans, mortgages and other credits, would be part of an evolving digital strategy at Fox after the multibillion-dollar sale of many of its traditional media assets to Disney.

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KeyBank rolls out no-fee overdraft, debit-linked savings accounts

08/05/19

The new products, along a 2% cash-back credit card, are aimed at helping customers build savings and reduce debt.

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