There's never an easy time to change leaders, but for American Express it's a particularly challenging time as it faces legal challenges to a core part of its fee structure and is still revamping its business model after a stinging client loss.
Rising losses and chargeoffs at JPMorgan Chase and Citigroup could be an indication of future trouble at other banks. Still, executives are bullish on cards and argue that the loss rates are logical consequences of rate hikes and attempts to expand card business.
Verba's two-decade career at one of the East Coast's fastest-growing banks began with an old-fashioned letter to a local bank when she was in her late 40s and an epiphany about work-life balance.
The McLean, Va.-based company would not say where the jobs are based or how many positions are being eliminated. They come as Capital One's investments in digital technology are yielding efficiency gains.
An internal CFPB memo says it was considering a $10 billion fine before settling on $100 million; state suit against credit bureau is likely to be the first of many.
Normally tight-lipped about security moves, bankers tell how they are re-examining their systems for Equifax-like flaws and providing new cards, fresh accounts and reassuring advice for anxious customers.
