News Topic: Consumer banking

In addition to his highly publicized comments on trade and other political issues, the CEO of JPMorgan Chase used his annual letter to underscore the importance of job training for low-wage workers and call attention to an FDIC proposal that encourages ... Read full article

Online account opening and facial recognition features on mobile apps are among the technologies the bank intends to introduce or improve upon this year, CEO Jamie Dimon wrote in his yearly shareholder letter. ... Read full article

Rep. Maxine Waters, D-Calif., questioned Bank of America's decision to discontinue free online checking accounts used by many low-income consumers in light of the bank's recent profits and corporate tax cuts. ... Read full article

Everytown for Gun Safety says that its recommended guidelines are similar to banks' know-your-customer principles. ... Read full article

Late-payment rates at banks declined in nine out of the 11 consumer loan categories tracked by the American Bankers Association, including credit cards, auto loans and personal loans. ... Read full article

U.S. banks lag the technology, telecommunications and energy sectors in what they pay employees, according to new data. The gap suggests that the industry may not be the acting aggressively enough to remake itself for the digital age. ... Read full article

Banks that scored high in customer-satisfaction ratings did so for their front-line service, not their tech capabilities, study finds. ... Read full article

Readers react to a drive for more public banks, weigh in the launch of an online-only bank, chime in on what millennials need and more. ... Read full article

The field is crowded, but that’s not stopping well-established banks from trying to reach new markets by creating separately branded digital units. ... Read full article

The banks' Finlabs program is seeking growth-stage firms that could eventually work with several of their business lines. ... Read full article

Readers react to the Senate regulatory relief bill, weigh in on the Consumer Financial Protection Bureau’s innovation initiative, chime in on whether banks need to provide more value in a digital age and more. ... Read full article

Small institutions need to rethink their approach to younger employees, giving them more opportunities and responsibilities — and borrowing from their digital know-how. ... Read full article

Banks say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market ... Read full article

The e-commerce giant is muscling its way into a number of businesses that banks have long dominated. ... Read full article

Eno likes reality TV, says Capital One's head of artificial intelligence. Who's afraid of big, bad Amazon? Not Nandita Bakhshi. Goldman Sachs won’t be breaking any glass ceilings. Plus, a study on sexual harassment in banking. ... Read full article

Use of alternative data in traditional credit scoring would help consumers access the banking system and lower their cost of credit. ... Read full article

Online banks and some credit unions are responding to Fed rate hikes by aggressively raising deposit rates on CDs, savings accounts and money market products, while the nation's biggest banks are largely standing pat — for now. ... Read full article

With rate hikes aplenty expected this year, Wells Fargo and Bank of America are said to be subdividing key markets to target deposit pricing in the future and minimize costs. These are among several innovative steps large banks are taking to prepare for ... Read full article