Citi meets revenue expectations, but work remains on efficiency

04/13/18

Revenue increased 2.8% to $18.9 billion thanks to gains in equities trading and other factors, but the bank still wants to improve its efficiency ratio, which could get harder as the year goes on.

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JPMorgan finds its Goldilocks moment in first-quarter volatility

04/13/18

Revenue and profit for the first three months of 2018 rose to all-time highs, the bank said Friday, spurred by record results from stock trading.

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With help from regulators, small-dollar loans can work for banks, borrowers

04/13/18

Regulators should revise existing rules to encourage banks to offer short-term loans to customers who run into financial emergencies.

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Payday loans, CFPB data collection and Warren face-off: Mulvaney's 2nd day on Hill

04/12/18

Acting CFPB Director Mick Mulvaney took heat from Democrats on whether he planned to take the agency's consumer complaint portal private while responding to Republican fears that its data collection activities pose a data security risk.

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Banks refusing gun industry business is 'troubling,' CFPB chief says

04/12/18

Opting out of doing business with the firearms industry is "troubling" behavior from banking institutions, said Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, during a hearing on Thursday.

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Online lenders adopt the model they sought to disrupt

04/12/18

As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts.

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Kabbage is said to acquire startup backed by Mack, Pandit

04/12/18

Orchard Platform Markets, a provider of lending data and services backed by the former heads of Citigroup and Morgan Stanley, is set to be acquired by small-business lending platform Kabbage, said people familiar with the deal.

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New twist in CFPB fight: Judges question Mulvaney’s dual role

04/12/18

A panel of judges remained skeptical of claims by Leandra English, deputy director of the Consumer Financial Protection Bureau, that she is the rightful head of the agency. But they didn’t sound convinced that current acting Director Mick Mulvaney is, either.

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Grading Treasury’s CRA reform memo: ‘Incomplete’

04/12/18

The Treasury Department’s long-awaited report on modernizing the Community Reinvestment Act was heavy on glittering generalities but light on specifics, which explains why the report punted the real job of making needed reforms.

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BofA, Citi plan next-gen branches

04/12/18

Bank of America is investing heavily in videoconferencing at unstaffed branches, Citigroup is experimenting with gamification and Union Bank’s PurePoint Financial is going entirely paperless.

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