News Topic: Consumer banking

Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association. ... Read full article

A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration. ... Read full article

If Libra becomes a major financial force, the stability of global finance is on the line. ... Read full article

Community bankers want to cut the time it takes for customers to establish digital accounts to mere minutes, but it's hard to do that and make other improvements without increasing fraud risk. ... Read full article

Whether it’s applying for a loan through a mobile app or building an investment portfolio via robo adviser, users want to know they can quickly and easily speak to a human being if they run into problems, top executives said at American Banker’s Digital ... Read full article

The move to add dozens of branches, many in low- and moderate-income neighborhoods, continues a strategic shift under retail banking chief Pablo Sanchez. ... Read full article

HSBC is opening 50 new retail branches in the U.S. and hiring more than 300 staff as part of the British lender's plan to expand services to regions where it has previously been absent. ... 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

"Truist" was roundly mocked when it was unveiled as the name of the merging BB&T and SunTrust, but it’s hardly the first bank moniker to elicit a "huh?" from critics. ... Read full article

The Goldman Sachs unit that offers savings accounts and makes personal loans says it will cover certain expenses for its customers who elect arbitration. ... Read full article

Despite renewed calls from Democrats looking to USPS to offer banking services, policymakers should instead consider reforms that would permit private-sector firms like Walmart and Amazon to offer a wider array of financial products. ... Read full article

CEO Greg Carmichael said Wednesday that online-only banks "aren't relationship-based" and that Fifth Third would stick to its plan of attracting new depositors by selectively expanding into new markets. ... Read full article

The president says the Fed is giving China a competitive advantage; bank stocks gained after tariffs on Mexican imports nixed. ... Read full article

The digital bank is a whole new line of business for Goldman, meaning there's no risk that it is cannibalizing from the main institution, said Omer Ismail, the head of the bank's U.S. consumer business. ... Read full article

The information the Consumer Financial Protection Bureau collects about customer problems can be valuable, but analysts need to move past the headline numbers. ... Read full article

A year after launching the digital bank, JPMorgan Chase has concluded that the millennials it targeted don't need a separate brand. ... Read full article

As banks seek to innovate, executives should accept that ignorance and mistakes are part of the process. ... Read full article

The regional bank has begun closing branches in Chicagoland as part of a plan to reduce its net number of brick-and-mortar offices by up to 15% even as it looks to expand in the Southeast. ... Read full article