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Estimates for 2020 are for a combined profit drop of $10 billion as global interest rates remain stubbornly low and geopolitical tensions stay high. ... Read full article

Travelex unable to deliver cash to major banks following a New Year’s Eve cyberattack; Rep. Katie Porter says the bank is undermining purpose of its punishment. ... Read full article

Though many merchants remain wary of alienating their customers with fees, others now see an opportunity to recoup the growing costs associated with accepting plastic. ... Read full article

More than two years after efforts began to modernize enforcement of the Community Reinvestment Act, regulators appear far apart on how to proceed. ... Read full article

California Gov. Gavin Newsom plans to ask the legislature to revamp the current Department of Business Oversight and rename it the Department of Financial Protection and Innovation, modeled after the federal CFPB. ... Read full article

Todd Zywicki, a law professor who has sharply criticized the CFPB as an unaccountable bureaucracy, has been named chair of an agency task force identifying potential conflicts and inconsistencies in consumer finance law. ... Read full article

Fed proposal is at odds with the one offered by the FDIC and OCC; judge wants to dispel the “myth” that student loans can’t be expunged in bankruptcy. ... Read full article

In trying to adapt and survive in an increasingly tech-dominated world, banks may unintentionally give up their most valuable commodity — their relationship with the consumer, and the data that comes with it. ... Read full article

JPMorgan Chase is boosting the annual fee for customers to $550 from $450 as it adds new perks with partners such as DoorDash and Lyft. ... Read full article

In the newly created role, Daniel Budington will be responsible for developing strategic partnerships and identifying growth opportunities. ... Read full article

Though she stopped short of mentioning the FDIC and OCC by name, Fed Gov. Lael Brainard objected to several key elements of those agencies' proposal. ... Read full article

Federal Housing Finance Agency Director Mark Calabria discussed the possibility of having Fannie Mae and Freddie Mac operate under a consent order to allow the government-sponsored enterprises to be able to raise capital. ... Read full article

Marcus and the Apple credit card accounted for 3% of the bank’s profit in the first three quarters of 2019, despite a multibillion-dollar investment in consumer operations; the senator’s plan would make it easier to expunge debt. ... Read full article

Policymaking has moved at an agonizingly slow speed compared with the exponential growth of technology, leaving regulators and lawmakers facing a huge task over how to keep up.  ... Read full article

Native American leaders are cheering the proposal, which would give banks Community Reinvestment Act credit for making loans made on reservations, even if the lands sit far outside their assessment areas. ... Read full article

The agency's new leader began her career as a part-time night-shift package handler for UPS in Chicago. ... Read full article

In his new role, Chubak will oversee all of Citigroup’s retail channels, product management and client segments. ... Read full article

The Department of Housing and Urban Development has proposed an overhaul of an Obama-era rule meant to guide local jurisdictions in how they comply with the Fair Housing Act. ... Read full article