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The San Carlos, California, consumer lender said it's "exploring strategic options" for its credit card portfolio, discontinuing its investment and retirement products and sunsetting a partnership with Sezzle in addition to embarking on a new round of job cuts.
November 7
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The brokerage's managing partner talks about AI in wealth management, inflation, and her work on the St. Louis Fed board, in conversation with American Banker Editor-in-Chief Chana Schoenberger.
November 7
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Aarthi Murali, M&T's chief customer experience officer, is now in charge of employee experience as well. Murali said she is focused on the "human experience" at all levels.
November 7
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What's in store for the industry? A Most Powerful Women in Finance honoree discusses what's next with Editor-in-Chief Chana Schoenberger.
November 7
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As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.
November 7
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The card giant is offering small merchants a debit card and account that provides a view of their cash flow across multiple products. Experts say this is a good step but that business owners may want more.
November 7
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The Federal Housing Finance Agency said in a long-awaited report that it will set up new guardrails for the Federal Home Loan Banks to ensure that the institutions are serving a housing-centric mission.
November 7
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In its opening bid in budget negotiations with the White House, Republican leadership in the House zeroed in on the Treasury, Securities and Exchange Commission and Consumer Financial Protection Bureau as targets for concessions. But how hard will the administration push back?
November 7
American Banker -
Often a harbinger of recessions, the fact that short-term yields are higher than long-term is not inherently bad, Federal Reserve Gov. Chris Waller said Tuesday, noting that in this case it could prove that market expectations are anchored.
November 7
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The new rules also expand the use of "proven protections," such as multifactor authentication, according to Adrienne Harris, superintendent of the New York State Department of Financial Services.
November 7
