Former PIMCO president joins Citi's board
Citigroup has appointed Jay Jacobs, former president of the investment management firm PIMCO, as an independent director. ... Read full article
Citigroup has appointed Jay Jacobs, former president of the investment management firm PIMCO, as an independent director. ... Read full article
Commercial real estate is their bread and butter, but many banks are scaling back in this vital loan category. Here’s why. ... Read full article
The Consumer Financial Protection Bureau said it did not issue an additional penalty because Citibank self-reported that it failed to reduce interest charges for 1.75 million credit card customers. ... Read full article
The comptroller of the currency has tiptoed around the issue of discrimination even though he wants to overhaul a key fair-lending law. ... Read full article
Whatever the reason that Plaid, a prominent data aggregator, can no longer access data from Capital One, the situation demonstrates how fragile fintechs are when they lose banking access. ... Read full article
Readers react to Capital One restricting data access, opine on whether or not the Consumer Financial Protection Bureau's structure is unconstitutional, weigh in on Rep. Maxine Waters as Financial Services Committee chairman and more. ... Read full article
Attorneys general from 21 states say the measures would undermine their ability to enforce consumer protection laws. ... Read full article
The president’s signature tax reform law muddled this year’s stress test results, causing several banks to incur greater-than-expected losses and spurring the Federal Reserve to constrain capital distributions at a handful of banks. ... Read full article
The bank's Finn app is attracting users by removing complexity from mobile banking. ... Read full article
JPMorgan Chase will buy as much as 555,000 square feet (52,000 square meters) of air rights from a landmarked Manhattan church as it prepares to build its new headquarters. ... Read full article
A new survey from J.D. Power shows that customers of digital-only banks, such as Capital One 360 and Ally Bank, are less satisfied with their banks' mobile channels than they were a year ago. Declining satisfaction among younger consumers is driving ... Read full article
It usually costs small businesses a lot of time and money to calculate their own value. TD Bank is offering them a free digital tool that performs the task quickly. ... Read full article
First-Citizens Bank & Trust in Raleigh, N.C., has agreed to buy Capital Commerce in Milkwaukee. ... Read full article
The Cincinnati company sold 5 million shares in the payment processor, as it continues to scale back its ownership stake. ... Read full article
Visa Inc. and Mastercard Inc. are close to settling a lawsuit over fees paid when merchants accept card payments, the Wall Street Journal reported Thursday, citing people familiar with the matter. ... Read full article
Credit One Bank is America's fastest-growing credit-card issuer. It's also the most complained about. ... Read full article
There's a battle being waged by Bank of Montreal and its smaller rival, Canadian Imperial Bank of Commerce, as they compete against JP Morgan Chase and almost 200 other lenders in so-called "Chicagoland" — one of the toughest banking markets ... Read full article
Zach Gipson, chief innovation officer at USAA, believes in putting new technology, like chatbots, out there and learning from customers' reactions. ... Read full article
Bank reputations are backsliding as consumers look for evidence of good corporate citizenship. But new data shows that a highly visible and vocal CEO — who talks about more than just the earnings report — can provide a major boost. ... Read full article
How has Frost Bank maintained its stellar reputation year in and year out? By emphasizing long-term relationships, never compromising on its principles to meet quarterly numbers and always striving to give customers a square deal. ... Read full article