HSBC plans to double mobile bank users in cost-cutting drive


HSBC is planning to shift services away from its branches in a push to make more of its customers migrate to its digital and mobile channels as it embarks on a massive cost and jobs cutting program.


HSBC resuscitates plan to cut 35,000 jobs to boost growth


The bank joins rivals such as Deutsche Bank AG and UniCredit SpA in forging ahead with job cuts that were put on hold at the outset of the pandemic.


FDIC eyeing bank dividends; Morgan Stanley sued by former diversity head


Banks paid out nearly twice as much as they earned in the first quarter; Marilyn Booker, a managing director, said she was fired in December for pushing too hard on a diversity plan.


Bank stocks slump on Fed forecast; Quicken going public


Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering.


PPP moves to stage two; HSBC chided for 'kowtowing' to Beijing


Small businesses that took out the loans will soon be applying for forgiveness; U.S. Secretary of State Pompeo and one of HSBC's large investors criticized the bank for buckling to Chinese pressure.


Fed tweaks Main Street Lending Program; bank offices' post-pandemic look


The changes are meant to make the program more attractive for both business borrowers and the banks that make the loans; as workers trickle back to offices on Wall Street, they'll see a different landscape due to coronavirus concerns.


HSBC lets Apple-using customers iMessage customer service


The U.S. division of HSBC Bank has added Apple’s iMessaging feature to its suite of customer service channels. Instead of waiting on hold, customers can trade texts with an agent.


HSBC sides with Beijing over Hong Kong; overdraft fee haul


The bank’s Asia-Pacific chief backs law giving greater mainland control over the territory; the Center for Responsible Lending said big banks took in almost $12 billion in overdraft fees last year, with the bulk of it paid by lower-income customers.


Mortgage underwriting tightens as rates fall; HSBC mulls sale of U.S. unit


Despite record low mortgage rates, borrowers are having trouble getting loans from wary lenders; the underperforming American unit may be ditched in U.K. bank restructuring.


Libra Association names Stuart Levey as CEO ahead of regulatory push


The former Treasury Department official would be the first CEO of the digital currency association, which is seeking payment licenses in the U.S. and Europe.