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Amex CEO Kenneth Chenault (Bloomberg News)
DEADLINE NEARS: Amex will propose its own reforms to the judge if the company and DOJ cannot find common ground, a company spokesman said in an email. Amex's survival depends on the outcome, CEO Kenneth Chenault has said.
A court-imposed deadline for American Express to negotiate a fix to its merchant rules with the Department of Justice is about three weeks away. Odds of a deal are said to be low, heightening uncertainty — and fueling debate — about how the showdown will affect the future of the credit card business.

Top Stories

Creating checking accounts, mortgages and consumer loans with features that suit folks with lower incomes is paying off in unexpected ways for some banks.  more »
During Congressional testimony this week, Fed Chair Janet Yellen was sharply questioned about remarks made by Fed General Counsel Scott Alvarez expressing mild concern about a provision of Dodd-Frank. Yellen didn't defend Alvarez — or note that his comments actually reflected the view of the board.  more »
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FinTech Forward
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Banks are transforming branches, rolling out new products and experimenting with alternative data, in an effort to bring more people into the financial mainstream. Such initiatives might have been a footnote in the past, but they have grown into a serious business strategy lately.  read more »
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