Capital One, Discover prepping for next downturn
The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday. ... Read full article
The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday. ... Read full article
The Rhode Island company is counting on disruption from the megamerger to accelerate its Southeast expansion, according to commercial banking chief Don McCree. But BB&T’s Kelly King has a message for him: Not so fast. ... Read full article
The bipartisan House effort to delay the Current Expected Credit Loss standard comes less than a month after Republican senators introduced a similar bill. ... Read full article
The agency announced the series in April as an effort to encourage public dialogue on policy issues. ... Read full article
The ride-sharing heavyweights Uber and Grab built their markets by making payments seamless, and their expansion plans are similarly hooked into improving payments and other financial services. ... Read full article
The top Democrat on the Banking Committee suggested the absence of data brokers at a hearing on privacy legislation was "cowardice." ... Read full article
Manulife Financial, Canada's largest life insurer, is taking on the country's large lenders with a new package of banking products designed to win over digitally savvy millennials. ... Read full article
The agency’s new guidance would limit some nonprofits’ ability to help borrowers pay their down payments, leading to higher home costs. ... Read full article
Jeremy Balkin, head of innovation at HSBC Bank USA, shares how the bank is investing in retail innovation, including a $350 million core system. ... Read full article
The good news for financial firms is Congress has moved closer to reforming anti-money-laundering rules. But left behind in the effort is the reform most coveted by the industry. ... Read full article
The digital bank is a whole new line of business for Goldman, meaning there's no risk that it is cannibalizing from the main institution, said Omer Ismail, the head of the bank's U.S. consumer business. ... Read full article
A trio of big deals in the payments and financial service provider area and continued bank and venture capital interest in fintech investments are creating expectations for a banner year. ... Read full article
The information the Consumer Financial Protection Bureau collects about customer problems can be valuable, but analysts need to move past the headline numbers. ... Read full article
Treasury Secretary Steven Mnuchin was adamant that the Trump administration won’t just let Fannie and Freddie build up their capital buffers and then release the companies. He also said he backed an explicit government guarantee, something only Congress ... Read full article
The legislation includes a beneficial owner requirement and steps to study the utility of industry reporting, but avoids relieving banks’ burden to file data on suspicious transactions. ... Read full article
Despite tension between the U.S. and trading partners, bank are doing booming business in financing cross-border commerce; some Republican lawmakers are getting antsy at the pace of rollbacks for bank regulations, and are pushing regulators for a sense of ... Read full article
Targeting consumers with poor or thin credit, Amazon is offering a secured card with rewards on par with those offered to mainstream cardholders. ... Read full article
Freedom Northwest in Idaho hopes a proposal from the NCUA will help it bring in more deposits to fund a fast-growing mortgage business. Banks are crying foul. ... Read full article
The Enloe State Bank in Texas becomes the first bank to fail in 17 months; BB&T dangles promise of bonus payments to top executives if they stay; where JPMorgan Chase’s Finn experiment went wrong; and more from this week’s most-read stories. ... Read full article
It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game. ... Read full article