Chief Executive Officer Charlie Scharf plans to name Bill Daley, the former White House chief of staff, to a senior post to improve relations with authorities in Washington, according to people with knowledge of the plan.
The credit bureau will consider borrowers’ rental payment history and professional licenses; bank looks to build business on the other side of the Atlantic.
At a forum convened by the CFPB, several bank and fintech executives argued that long-delayed rules required under the Dodd-Frank Act can help fight discrimination and shine a light on unsavory practices in the market for small-business credit.
Don Kimble assured investors Wednesday that the bank is being "very diligent" in lending to an industry some experts say is already in a recession. Echoing other banking executives, he also predicted that consumer lending would drive overall loan growth in the near term.
The bank is open to adding branches in cities where it has a high population of cardholders and where its largest co-brand card partners are based, Anand Selva, head of the lender's U.S. consumer unit, said.
Executives from the bank and the tech company have been working for months to create a cloud designed to address the challenges that often slow financial institutions' adoption of cloud computing.
An e-wallet in development would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there.
The financial services industry has struggled with how best to explain privacy and data-sharing practices to customers. Mastercard is offering a new framework.
Top officials at Bank of America and Wells Fargo said that commercial loan demand is weak, even as U.S. consumers show strength. Their comments echo recent findings by the Federal Reserve.
