Sections
consumer banking
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2.6KEarningsGoldman Sachs: Marcus At $60 Billion In Deposits
All quarterly reports have puts-and-takes, and variations on themes – and, for banks, the theme has thus far been a return to...
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1.9KNewsTop News in Payments: Citigroup Names New Retail Banking Leader; NY Lawmakers Push For Public eBanking System
In today’s top news, CitiGroup named David Chubak to head its retail banking division, lawmakers in New York proposed a public eBanking...
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2.6KBankingGoldman’s Reporting Revamp Spotlights Its Consumer Focus
If you can’t beat ’em, join ’em — at least when it comes to reporting structure. To that end, investment banking giant...
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3.9KDigital BankingHow N26 Is Changing Its Expansion Strategy, Competing For US Customers
Move fast and break the conventional mold is a strategy practically synonymous with challenger banks. But to gain traction in markets where...
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2.9KInvestmentsGoldman’s Investor Day To Divert Focus From Consumer Banking
The first-ever Goldman Sachs Investor Day planned Jan. 29 won’t include rigid profit goals but instead will focus on growth strategy and...
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6.0KRetailWalmart’s Daniel Eckert On Why TailFin Is Retail’s Next Big Thing
Worlds are colliding when it comes to payments and commerce. One of the most recent examples of that movement comes from Walmart,...
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2.3KBankingCitigroup Taps Jane Fraser To Lead Consumer Banking Division
Citigroup veteran Jane Fraser was named to lead the company’s consumer banking division following an upheaval in the ranks that puts her...
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2.0KEarningsChase Sees Active Mobile Customers, Card Loans Grow in Q3
Amid the companies kicking off earnings season, JPMorgan Chase and Co. reported results that showed consumer spending remains resilient in the face...
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2.4KData DiveData Dive – Losses, Cuts And Freezes: Goldman, Banking And Rent The Runway
There are weeks of smooth sailing in the payments and commerce ocean, and then there are those weeks when the sailing is...
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3.3KDigital BankingGoldman Exec Says Marcus Isn’t Like JPMC’s Finn
Goldman Sachs doesn’t believe its digital brand, Marcus, will suffer the same fate as JPMorgan Chase‘s Finn. Barely more than a year...
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2.9KDigital BankingGoldman COO Teases New Digital Money Management Product
The chief operating officer of Goldman Sachs said the bank is working on a digital money management tool in an attempt to...
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9.8KPersonnelGoldman Sachs’ Marcus Loses Product Head
Marcus, the consumer bank operated by Goldman Sachs, has seen its head of product Michael Cerda quit his job. According to a...
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5.7KB2B PaymentsWells Fargo’s Corporate Banking Business Struggles To Bounce Back
Wells Fargo’s corporate banking operations are struggling to bounce back as well as its consumer financial services have done in the wake...
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7.8KBankingChase Plans Expansion In Top US Markets In 2019
Chase has announced it is expanding its retail footprint into nine of the top American markets, as well as opening dozens of...
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6.8KBankingWhy ‘Mobile-First’ Must Mean ‘Trust-Always’
Trust is inherent in banking, and has been since the beginning, when people decided to store coins and bills in vaults. Entersekt SVP...
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4.9KDigital BankingBank of America Stock, Can Be Traded For Free
Bank of America is giving free trades to its most loyal members, according to a report by Bloomberg. The bank will expand...
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4.5KToday In DataToday In Data: Driving Contactless Adoption With Community Banks
Community banks could put more contactless cards into the hands of consumers with the help of the Independent Community Bankers of America (ICBA). At the same...
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5.3KBankingOnline Shift Trims Citi’s Russian Bank (Branches)
Regulatory oversight may have the impact of reducing some banks’ physical footprint abroad. To be specific, that may be the case in...
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7.7KEarningsBank Of America’s Zelle P2P Transactions Increased 97 Pct In Q4
Zelle P2P payments increased 97 percent in the fourth quarter of 2018, Bank of America said Wednesday (Jan. 16), signaling the latest...
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5.2KEarningsChase Active Mobile Users Hit 33.3M
In what is becoming what seems to be a familiar theme as banks report earnings, trading revenues plummeted at the end of...
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4.8KEarningsCiti Weathers Trading Volatility as Mobile Efforts Gain Traction
Citigroup’s trading business may have been the focus on Monday (Jan. 14) upon releasing fourth-quarter results – injecting a bit of volatility...
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5.3KB2B PaymentsRadius Bank Goes Mobile For Micro-Businesses
Virtual bank Radius Bank — which services small businesses (SMBs), micro-firms and consumers — is rolling out a revamped digital banking platform and a...
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7.6KLoansHSBC, Avant Team On Personal Loans
HSBC Holdings announced that it is teaming up with online lender Avant to offer unsecured loans to consumers. In the first half...
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3.5KBankingBanks’ Low Interest Rates Costing Them Deposits
The country’s four largest banks reported a combined 5 percent drop in U.S. deposits that earned no interest in the third quarter,...
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4.7KBankingGoldman Reassigns Online Bank Marcus To Wealth Unit
Goldman Sachs is moving its Marcus business line into its wealth-management unit. According to an internal memo seen by Bloomberg, the firm’s...
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8.3KMobile PaymentsCiti Ventures Makes Investment In Ondot
A sense of control and security goes a long way toward building confidence, and that’s especially true in payments and commerce. Make...
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4.2KEarningsJPMorgan Reports Growth In Card Spend, Mobile Users
JPMorgan posted results on Friday (Oct. 12) that beat the Street on headline numbers – top and bottom – based on traction...
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7.5KEarningsCitigroup Beats Earnings Expectations, But Misses On Revenue
It was a better than expected showing when Citibank reported, with earnings coming in stronger than anticipated, buttressed by a lower corporate...
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7.8KLoansGoldman Tightens Marcus Lending Reins
Goldman Sachs might be reining in its online lending platform due to concerns about the stage of the credit cycle and changes...
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Through Marcus, Goldman Taps UK Retail Banking/Savings Market
Goldman Sachs Group has launched its consumer bank, Marcus, in the United Kingdom, the latest salvo of the company’s push into retail...
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4.5KPartnerships / AcquisitionsFiserv Buys Elan’s Debit, ATM Business For $690M
Fiserv, the global provider of financial services technology solutions, announced on Tuesday (Sept. 25) that it has agreed to acquire the debit...
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3.8KBankingJPMorgan Bucks The Trend, To Open 50 New Branches In Philadelphia
U.S. banks may be shuttering branches in an effort to cut costs, but JPMorgan Chase is employing a different strategy, aiming to...
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7.4KPersonnelWells CEO Says He’s In For The Next Decade
Wells Fargo Chief Executive Tim Sloan told Bloomberg late last week that he plans to stay on at the company for the...
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3.3KRegulationWells’ Plan To Compensate Auto Insurance Holders Rejected
Wells Fargo has seen U.S. regulators turn down its plan to pay back customers who purchased auto insurance they didn’t need. Reuters,...
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11.0KAlternative FinancesUS Bank Launches Loan To Compete With Payday Lenders
U.S. Bank is entering the small-dollar lending arena. Going forward, U.S. Bank depositors will be able to tap into an online, digital...
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US Bank Exec Retirement Triggers Big Reorg
U.S. Bank announced that John Elmore, vice chairman of Community Banking & Branch Delivery, will retire, which has led to a major...
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2.1KBankingChinese Consumers Turn To Bank Deposits For Financial Security
More Chinese consumers are choosing to deposit their money into traditional banks as they turn away from higher-yielding assets in favor of...
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8.0KRegulationFCA Rolls Out Rules To Help Consumers Make Better Financial Services Decisions
The Financial Conduct Authority (FCA) and the Competition and Markets Authority (CMA) announced on Thursday (Aug. 16) that consumers and small businesses...
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6.0KBankingCitigroup’s Jud Linville To Leave As Part Of Executive Reshuffling
Citigroup announced Monday (Aug. 13) that Jud Linville, CEO of global cards and consumer services, will leave the bank as part of...
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5.5KBankingLegislation Would Ban Banks From Overdraft Fees On Debit, ATM Transactions
Sen. Cory Booker has proposed legislation that would prohibit financial institutions from charging overdraft fees on debit card transactions and ATM withdrawals....
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Wells Fargo Refunding Customers For Add-On Products
Wells Fargo, the embattled national bank, is reportedly refunding tens of millions of dollars for a range of products, including pet insurance...
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7.2KEarningsBank Of America Earmarks $500M In Tech Spend As Mobile Use, Zelle Soar
Continuing the recent string of earnings from big banks – a string that kicks off earnings season per tradition – Bank of...
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7.6KLoansPersonal Loans Are The Fastest-Growing Lending Category
As a consumer lending category with the fastest growth, outstanding balances for personal loans jumped by about 18 percent to $120 billion...
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7.1KBankingCitizens Financial To Launch Online Consumer Bank
Citizens Financial Group announced on Monday (May 14) plans to launch Citizens Access, a nationwide direct-to-consumer online bank. In a press release, Citizens...
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12.8KPartnerships / AcquisitionsFor Goldman And Apple, One Word: Plastic (Cards, That Is)
Two marquee names — one in tech and the other in finance — and a card between them. News came Thursday (May...
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5.5KEarningsCitigroup Sees 1Q Surge In Mobile Banking, Beating Expectations
Amid headlines that corporate banking helped boost Citigroup profits, the firm also reported strength in its mobile and online initiatives, as evidenced...
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10.5KB2B PaymentsBarclays Completes ‘Ring-Fencing’ Overhaul In Post-Crisis Reforms
U.K. banking group Barclays announced the completion of its “ring-fencing” project, an overhaul of the financial institution’s structuring to prevent some of...
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3.8KMobile ApplicationsCiti To Roll Out New Features For Its iPhone Mobile App
Citi announced Monday (March 26) that it is gearing up to launch comprehensive new mobile capabilities on the Citi Mobile App for...
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14.6KBankingFifth Third Bank Customers Can Now Utilize Card-Free ATMs
Fifth Third Bank has announced that its customers can now access the bank’s ATMs without having to use their debit cards. Instead,...
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4.9KInternationalBias Allegations Force Hand Of UK Complaints Body
Britain’s Financial Ombudsman Service (FOS) has been ordered to prove that the organization has thoroughly investigated customer complaints against banks. FOS handles...
