News Topic: Consumer banking

Free financial education programs and easier access to safe small-dollar loans are among the ways banks could help put low-income minority households on a path to prosperity. ... Read full article

Credit unions are hoping for a return to normal credit card spending patterns sometime during the second half, but the pandemic has created a domino effect of complicating factors. ... Read full article

The San Antonio-based company has promoted Paul Vincent to president of its banking unit. Neeraj Singh, previously chief risk officer for Citi’s U.S. consumer bank, has joined the parent company as chief risk officer. ... Read full article

The bank will start with a mobile checking account for U.K. customers this year, followed by a full slate of products that could include credit cards, mortgages and car loans. ... Read full article

Greg Carmichael said lightly regulated challenger banks pose a long-term threat to traditional banks, echoing comments JPMorgan Chase’s Jamie Dimon made last week. ... Read full article

Payments activity “snapped back” in the fourth quarter and should lift revenue the next few quarters, CEO Brian Moynihan said. ... Read full article

Its Marcus unit continues to invest in new products and business lines, delaying its path to profitability, according to Goldman Sachs CEO David Solomon. ... Read full article

Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity. ... Read full article

In these uncertain times, strengthening relationships with clients is the one thing front-line bankers can control. ... 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

The online lender founded by Renaud Laplanche is now a full-fledged challenger bank that can offer generous checking terms because, it says, it can count on its loans for profits. ... Read full article

In a memo to staff on Tuesday, Citigroup announced a new head of U.S. consumer banking and said that two of its other high-ranking bankers would essentially switch roles. ... Read full article

A team led by Michael Lipsitz, a lawyer hired away from Santander last year, will look at everything from whether prices are fair to whether complaint data contains notable trends. ... Read full article

Industry groups say the coronavirus has highlighted additional risks faced by institutions without a diverse member base. ... Read full article

The retail giant is teaming with the investment group Ribbit Capital on the venture, which will aim to provide new services to Walmart customers and employees. ... Read full article

The Mint’s facilities in Denver and Philadelphia worked overtime in the second half of 2020 so that banks and retailers could get more change into customers’ hands. ... Read full article

With fewer people allowed inside branches, banks have to capitalize on those limited in-person interactions by offering experts on financial literacy and mobile banking. ... Read full article

Absa Group is drawing on global training data from the fintech Kasisto and annotators who review conversations with clients to help in fine-tuning its virtual assistant. ... Read full article