Rep. Katie Porter is butting heads with Jamie Dimon again. The Democrat from California claims the bank’s new policy of making credit-card customers use arbitration instead of the courts to resolve payment disputes violates her state’s laws.
The Goldman Sachs unit that offers savings accounts and makes personal loans says it will cover certain expenses for its customers who elect arbitration.
The head of the venture capital firm Nyca Partners recommends that banks find firms that are big players in narrow markets and wouldn't strain tangible common equity to purchase.
CEO Greg Carmichael said Wednesday that online-only banks "aren't relationship-based" and that Fifth Third would stick to its plan of attracting new depositors by selectively expanding into new markets.
JPMorgan Chase & Co. said it won’t shut the accounts of credit-card customers who reject a new policy of using arbitration instead of the courts to resolve payment disputes.
The digital bank is a whole new line of business for Goldman, meaning there's no risk that it is cannibalizing from the main institution, said Omer Ismail, the head of the bank's U.S. consumer business.
A trio of big deals in the payments and financial service provider area and continued bank and venture capital interest in fintech investments are creating expectations for a banner year.
The Enloe State Bank in Texas becomes the first bank to fail in 17 months; BB&T dangles promise of bonus payments to top executives if they stay; where JPMorgan Chase’s Finn experiment went wrong; and more from this week’s most-read stories.
After more than six years, the Fed is ending its order requiring greater risk controls at the bank, following an estimated $6 billion in trading losses in 2012 that stemmed from a single trader.
