Rep. Katie Porter is butting heads with Jamie Dimon again. The Democrat from California claims the bank’s new policy of making credit-card customers use arbitration instead of the courts to resolve payment disputes violates her state’s laws. ... Read full article
The interpretation by HUD, conveyed in a letter to Congress by Assistant Secretary Len Wolfson, appeared to contradict the agency's earlier comments about borrowers in the Deferred Action for Childhood Arrivals program. ... Read full article
The central bank gathered feedback in nearly 30 roundtable discussions about regulators' efforts to modernize the 1977 law. ... Read full article
The Goldman Sachs unit that offers savings accounts and makes personal loans says it will cover certain expenses for its customers who elect arbitration. ... Read full article
The head of the venture capital firm Nyca Partners recommends that banks find firms that are big players in narrow markets and wouldn't strain tangible common equity to purchase. ... Read full article
The CEO of the digital-only bank Chime says it has quadrupled its membership in a year. So why doesn't his counterpart at Varo believe him? ... Read full article
Lenders should get a boost from refinances and purchase loans; BB&T and SunTrust Banks’ name choice questioned. ... Read full article
Some of the biggest industry moves in May and early June were not executive promotions, but rather departures. ... Read full article
Judging by day one on social media, you’d think the new Truist brand was a flop. But marketing and branding experts say the name has a lot going for it. What matters most will be how the two banks advocate for the name. ... Read full article
The combined company will be known as Truist, which plays off “trust,” a word the banks’ original names had in common. ... Read full article
Bills to fix the National Flood Insurance Program and combat the money-laundering risks from shell companies enjoyed bipartisan support during a House Financial Services Committee debate. ... Read full article
CEO Greg Carmichael said Wednesday that online-only banks "aren't relationship-based" and that Fifth Third would stick to its plan of attracting new depositors by selectively expanding into new markets. ... Read full article
Director Mark Calabria urged lawmakers to grant the agency chartering authority similar to that of bank regulators to boost competition in the mortgage market. ... Read full article
Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers. ... Read full article
The head of the Federal Deposit Insurance Corp. previously had said regulators were weighing numerous options for addressing criticism of their 2018 proposal. ... Read full article
With several top candidates reportedly turning down the job, some insiders are reportedly lobbying the board to appoint C. Allen Parker as the bank's next CEO. ... Read full article
JPMorgan Chase & Co. said it won’t shut the accounts of credit-card customers who reject a new policy of using arbitration instead of the courts to resolve payment disputes. ... Read full article
Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results. ... Read full article
Recent legislation zeroes in on letting financial institutions serve cannabis businesses in states where the substance is legal, but banks may stay on the sidelines if the federal ban on pot remains in place. ... Read full article
The investment firm is launching a company called Akoya that it says will help ease the technical aspects of data sharing, as well as disputes and liability issues, for banks, fintechs and data aggregators. ... Read full article
