The IRS, FDIC and more than 70 banks and credit unions are urging consumers to open affordable accounts so they can receive their Economic Impact Payments quickly and safely. Many people have signed up, but millions lack accounts and will be harder to serve.
The company is anticipating at least $175 million in losses in 2021, but its recent acquisition of Radius Bancorp will reduce funding costs and allow it to develop a full gamut of banking products that its CEO says will eventually yield big profits.
New measures in California and Virginia give consumers more control over their information and may prevent banks from using geolocation services or analyzing personal data without obtaining consent first — except when preempted by federal law.
In "Democracy Declined," Duke public policy professor Mallory SoRelle argues that policymakers should be more aggressive in combating unfair lending practices.
Better Financial offers customers up to $5,000 per year in accident coverage, prescription drug discounts and medical debt negotiation to certain account holders.
Brian Milton, who ran MUFG Union's digital bank, was named head of banking and would become CEO of Thrivent Bank, a digitally focused platform that plans to operate as an industrial loan company.
Omer Ismail was a key architect of Goldman Sachs's consumer efforts in recent years and David Stark inked the bank's partnership credit card partnership with Apple.
The CEO of Chase Consumer Banking and a member of JPMorgan’s leadership team, Thasunda Brown Duckett has been tapped to replace Roger Ferguson as CEO of the retirement services provider.
The London company poured cold water on speculation a deal to divest its 152-branch network in the United States was imminent. But biding its time here while focusing on issues in other parts of its global operation could drive up the price in a seller’s M&A market.
MoneyLion and Opportunity Financial are following in the footsteps of financial technology businesses that have raised billions of dollars from special purpose acquisition companies. The quick injection of funds is expected to accelerate their growth as well as make them more competitive with banks and other mainstream financial services firms.
