News Topic: Consumer banking

An increase deposit costs, higher reserves and ongoing restructuring issues weighed on the second-quarter results at the New York company. ... Read full article

The bank announced plans to open 100 to 125 branches in fast-growing cities across the Southeast, and will close an equal number in the Midwest. In a way, it's finishing a plan it cooked up nearly two decades ago. ... Read full article

The bank had numerous warnings that there could be severe regulatory consequences related to deceptively advertised add-on products. It is paying the price for failing to do more in response. ... Read full article

The Minneapolis company plans to expand to new retail markets through a digital platform, but it’s facing questions about how it will distinguish itself from peers. ... Read full article

The Minnesota company's profits rose by double digits despite some challenges in the second quarter, and its CEO says it will be expanding its digital offerings to simplify banking for customers. ... Read full article

The appointment of David Solomon, who will take over for retiring CEO Lloyd Blankfein, has not altered the bank's aggressive plan to build a mobile phone-based bank for consumers in the U.S. and beyond. ... Read full article

Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide. ... Read full article

Bankers should resist the urge to skirt financial regulations, including know-your-customer and lending standards, to make a sale. The danger of penalties and a possible reputational hit is too great. ... Read full article

A law designed to minimize the drawbacks of short-term loans and other alternative financial products may have helped legitimize them. ... Read full article

CEO Jess Staley had been reducing the bank's investment in its African subsidiary as he sought to conserve capital and rebuild Barclays' investment bank. ... Read full article

An index that tracks late payments on consumer loans inched closer to historic norms, according to data from the American Bankers Association. ... Read full article

Flagstar Bank, which is in the process of buying more than 50 branches from Wells Fargo, has hired Ryan Goldberg as a director of retail banking. ... Read full article

Despite some criticisms of the strategy, community banks should continue to pair up with fintech companies that can help them expand their digital offerings. ... Read full article

The regional bank's move is part of an industrywide transformation of call centers and operations centers to handle more complex tasks and trim costs. ... Read full article

Citigroup and Mastercard replace Barclays and Visa as the card partners for the Maine apparel retailer. ... Read full article

Jennifer Jackson will succeed Shane Holdaway as head of the Toronto-based unit, which has 1,200 employees. ... Read full article

When bank customers are treated poorly by branch employees, it can damage the relationship even if the specific issue is effectively resolved. ... Read full article

A first-in-the-nation ordinance, passed by the city council in the wake of the Wells Fargo scandal, would require banks that want the city’s business to reveal if they have sales quotas for employees. It remains to be seen, though, whether Mayor Eric ... Read full article