Sections
consumer banking
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8.3KPersonnelGoldman 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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4.4KB2B 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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6.1KBankingChase 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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5.7KBankingWhy ‘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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4.3KDigital 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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3.7KToday 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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4.0KBankingOnline 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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6.4KEarningsBank 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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3.9KEarningsChase 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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3.6KEarningsCiti 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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4.1KB2B 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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6.5KLoansHSBC, 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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2.9KBankingBanks’ 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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4.0KBankingGoldman 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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6.9KMobile 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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3.9KEarningsJPMorgan 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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6.8KEarningsCitigroup 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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6.8KLoansGoldman 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...
- 2.7KBanking
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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3.8KPartnerships / 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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3.2KBankingJPMorgan 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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6.8KPersonnelWells 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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2.7KRegulationWells’ 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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9.7KAlternative 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...
- 4.0KPersonnel
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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1.7KBankingChinese 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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6.5KRegulationFCA 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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4.9KBankingCitigroup’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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4.7KBankingLegislation 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....
- 4.1KBanking
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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6.2KEarningsBank 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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6.4KLoansPersonal 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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6.4KBankingCitizens 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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11.2KPartnerships / 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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5.1KEarningsCitigroup 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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9.4KB2B 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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3.3KMobile 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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12.8KBankingFifth 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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4.4KInternationalBias 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...
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8.1KDigital BankingCitigroup Eyes Creation Of National Digital Bank
Citigroup is gearing up to launch a digital consumer bank that will be national in scope and will arrive within the next...
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7.0KBanking60 Percent Of Americans Want The Branch, Not Mobile, To Open New Account
While mobile banking has its perks, a new survey has found that 60 percent of Americans prefer opening a new checking account...
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5.0KBankingPayPal-Backed Raisin Savings App Launches U.K. Website
PayPal-backed Raisin has launched a dedicated U.K. site for its savings deposit marketplace. According to TechCrunch, the site allows consumers to shop...
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3.5KBankingRegulators In No Rush To Change Rules For FinTechs
It doesn’t look like global banking regulators will be rushing to change their rules for FinTechs anytime soon. According to Reuters, traditional...
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6.0KLoansGoldman Sachs Encourages Personal Loans For Home Improvements
Goldman Sachs has taken another step to boost its presence in the consumer lending market by marketing home improvement loans to its...
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4.8KPersonnelWells Fargo Taps Mary Mack To Fix Consumer Lending Business
Wells Fargo has announced that Mary Mack will lead its consumer lending unit. According to The Wall Street Journal, this new role...
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6.1KBankingAspiration Raises $47M To Grow “Ethical” Online Bank
Aspiration, the online bank launched by a former speech writer for President Bill Clinton, has raised $47 million in Series B funding...
- Company Spotlight
The Trust Issue Effect On Banks
Although consumers largely trust their banks, the many hacks that have happened over the years has made them very afraid of losing...
- News
CFPB Director Talks Credit Regulation, Lending With Congress
Just a little over give years ago, the Dodd-Frank Wall Street Form and Consumer Protection was passed by Congress. Around four years...
- News
L.A. Suit Accuses Wells Fargo Of Misusing Consumer Data
The City of Los Angeles is suing Wells Fargo, alleging some bank employees in the state have been pressured to adopt “unfair,...
- Mobile Commerce
Banks Eye IoT And Wearable Tech Apps
Banks and other transaction-focused companies are increasing their efforts to bring apps to the Apple Watch and other wearable technology – with...
