After shaking up the financial services industry last month by eliminating commissions for all online trades, Charles Schwab is setting its sights on building out its lending services.
While American Express initially lost customers after JPMorgan Chase introduced the popular Sapphire Reserve premium card in 2016, the firm said it's seen a 60% increase in growth in Platinum accounts.
A California bank with deep ties to the U.S. venture capital industry is targeting Denmark for growth, as a lack of regulatory constraints on lending make the country a preferred destination in Scandinavia.
Many in the space are seeking the creation of a "flexible" supervisory regime that relies on existing authorities and a hands-off approach from state agencies, but such a plan faces an uphill battle.
Banco Santander Chairman Ana Botin said that more than a decade after the financial crisis, bankers and other elites remain distrusted around the world, and "as a result, political populism is ascendant."
Financial regulators have been put on notice about the risk of an economically damaging cash crunch in the home mortgage market. Behind the concern: the rapid growth of shadow banks in the origination and servicing of home loans.
Businesses scaled back investment plans in the third quarter, but consumers continued borrowing; the bank now plans to raise its minimum wage to $20 in 2020.
The Supreme Court is ready to weigh in on the CFPB’s leadership structure, but both agencies are facing similar constitutional challenges, suggesting a broader impact of any decision.
