Kevin Wack

The credit card lender responded to the closing of Toys R Us stores last year by issuing Synchrony-branded cards to the retailer's customers. Now it's testing a general-purpose card with a wider array of clients.

Customers of the New Jersey bank will be able to complete applications in minutes and receive funding in as little as one business day.

The legislation, sponsored by Rep. Cindy Axne of Iowa, aims to hold public companies accountable for moving jobs overseas. It won unanimous support from House Democrats but attracted only two votes from Republicans.

Gordon Sondland, the U.S. ambassador to the European Union, is often described as a hotelier from the Pacific Northwest. But he has also had a long and sometimes controversial career in finance.

The retailer and credit card giant are rolling out two new card offerings. The move could hit especially close to home for CUs with branches inside Walmart locations.

While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.

Perhaps the biggest test that Charles Scharf will face when he starts next week will be how to control expenses while still trying to make the necessary investments in risk management to satisfy regulators.

A law signed last week by Democratic Gov. Gavin Newsom caps interest rates on installment loans. But three large lenders are looking to avoid its restrictions by partnering with banks.

Majority, which will launch nationwide later this quarter, will use networks of immigrants to sell a mobile phone-based account that features unlimited remittances and international calling services.

The state's Democratic-controlled Legislature has enacted laws establishing data privacy rights, giving municipalities the ability to set up public banks, and requiring standardized disclosures on small-business loans, among other issues. Lawmakers elsewhere are taking notice.