HSBC is letting artificial intelligence software predict the types of reward offers card customers prefer. It's driving up response rates in marketing tests, but the process raises privacy and other issues.
Despite past missteps in the U.S. mortgage business, the bank is giving it another go, bringing servicing in-house and catering to millennials and international clients here, says HSBC’s Raman Muralidharan.
Goldman Sachs CEO Lloyd Blankfein is reportedly considering leaving by the end of this year; American Express plans to reduce its merchant fees to stay competitive.
At the U.K. investment bank, women earn 26% less than men and receive bonuses that are 60% lower, according to the lender’s annual report. Overall, it pays women just under half as much as male colleagues.
Stuart Gulliver’s final set of results at HSBC Holdings Plc weren’t quite the swansong he’d hoped for as he hands the reins over to his long-term lieutenant, John Flint.
It is easy to tire of predictions that business lending is poised to rev up. But HSBC USA's Richard Martin sees faster growth among U.S. midsize firms than at their international peers, as well as international-expansion potential for the U.S. companies — and his business plan is counting on all of it.
HSBC has agreed to pay $100 million in penalties to resolve a Justice Department investigation into the rigging of currency rates, according to a person familiar with the matter.
Capital One became the latest bank to feel customers' online wrath last week after reports that some customers were being charged twice for debit card activity. But they were hardly alone.
The move signals that the Justice Department is satisfied with the bank’s upgrades to its compliance systems after it was ensnared in a money-laundering scandal in Mexico.
