Fifth Third, U.S. Bancorp and others aim to design a short-term credit product that would satisfy their various regulators, but exactly how and how quickly they should go about it is murky at this point.
Since Zelle's earliest days as the clearXchange network, the banks behind the P-to-P platform have promised that it could have a role in the business world. U.S. Bank has begun the next chapter by offering Disbursements via Zelle.
Momentum is building to replace the hard-target $50 billion asset systemic risk threshold for banks with an indicator test, but it remains unclear whether it will be enough to get Congress to act.
Chenault to leave credit card giant helm after 16 years, vice chairman will take his place; Brett Redfearn named the agency’s director of trading and markets.
Net interest margin widened 12 basis points, too. Those lending results offset a decline in fee income at the Minneapolis company, which saw earnings rise 4%.
Some banks are looking at how to translate the complicated and document-heavy mortgage lending process into the digital world of voice interactive personal assistants.
Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.
The first-of-its-kind study was an acknowledgment that as consumers rely more on digital banking channels, the nation's largest banks are competing more against each other and less against smaller institutions.
