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JPMorgan Chase ends business loan partnership with OnDeck

Noah Breslow, chairman and CEO of OnDeck Capital.
The decision is a blow to OnDeck, which said Monday that it intends to pursue a bank charter, either by applying for one or by buying a bank.

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Fiserv-First Data deal set to close

Jeffery Yabuki, president and CEO of Fiserv
Jeff Yabuki, president and chief executive officer of Fiserv Inc., speaks during the Money 20/20 conference in Las Vegas, Nevada, U.S., on Wednesday, Nov. 5, 2014. The conference, which includes over 100 sessions and 500 speakers, explores the evolution of payments and financial services and the innovations that are driving trends in the mobile, retail, marketing services, data and technology sectors. Photographer: Jacob Kepler/Bloomberg *** Local Caption *** Jeff Yabuki
Fiserv expects its $22 billion purchase of First Data to close on Monday after clearing regulatory requirements.

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Truist out to prove it can best the megabanks in tech

Signage for BB&T and SunTrust is displayed on buildings in Florida.
To combat the notion that regional banks' tech offerings are inferior, the combined BB&T-SunTrust will have to go "toe-to-toe" with big banks, BB&T chief Kelly King said ahead of shareholder approval of the deal Tuesday.

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Capital One's data breach was bad. It could've been worse

Number of accounts exposed in Equifax, Capital One and other big financial data breaches
A breach that compromises personal data of more than 100 million people is never good, but the company did follow some security best practices.

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Wells Fargo creates new roles in latest effort to satisfy regulators

A man uses a Wells Fargo ATM inside a branch in New York.
A man uses a Wells Fargo & Co. automated teller machine (ATM) inside a bank branch in New York, U.S., on Tuesday, July 12, 2016. Wells Fargo & Co. is scheduled to release earnings figures on July 15. Photographer: Eric Thayer/Bloomberg
The San Francisco bank is moving two executives into new positions who will report to consumer banking head Mary Mack.

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A GSE plan before the election has risks — but so does doing nothing

Donald Trump
U.S. President Donald Trump speaks during a ceremony in the Rose Garden of the White House in Washington, D.C., U.S., on Monday, July 29, 2019. Trump signed a law to replenish a fund that provides lifelong medical help and compensation to first responders during the Sept. 11 terrorist attacks, after the legislation was delayed in Congress. Photographer: Alex Wroblewski/Bloomberg
Some believe the administration will delay action on Fannie Mae and Freddie Mac to avoid any political fallout. Others say the window for reform is closing.

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What's next for OnDeck after breakup with JPMorgan?

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The online lender is counting on other arrangements with banks — and perhaps even a bank charter of its own — to help recover from the loss of a key partnership.

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CECL: A solution in search of a problem

Closeup of an accountant's hand on a calculator.
Close up of businessman or accountant hand holding pen working on calculator to calculate business data, accountancy document and laptop computer at office, business concept
The new accounting standard meant for publicly traded firms creates greater headaches for privately held community banks.

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OCC's innovation pilot gets little love from banks

Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency contends that Industry Bancshares is "in troubled condition," citing outsized vulnerabilities to changes in interest rates and the company's reliance on "funding sources that may not be available in the event of further financial stress."
Financial institutions welcome regulatory feedback on their fintech offerings, but the industry wants the agency to waive enforcement for approved products.

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When do credit problems move from one-off to trend?

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Credit quality is being second-guessed after several banks reported higher 2Q charge-offs.

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Commercial lending Data breaches GSE reform Marketplace lending CECL Credit quality JPMorgan Chase Truist Financial Capital One Fiserv
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