Consumer banking
After an aborted attempt to set up its own bank, Edward Jones is joining forces with Citi to provide savings and checking accounts for clients.
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The embattled credit card company, which is bracing for regulatory action, warned Thursday that heavy spending on risk management and compliance will persist. Executives also said that internal and external candidates will be considered for the permanent CEO job.
August 17 -
Establishing a conduct risk authority in the U.S. would go a long way toward restoring trust in the banking industry.
August 17
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The credit card company is no stranger to regulatory penalties, but its CEO's sudden departure this week raises the specter of a more painful punishment tied to possible compliance shortcomings. Analysts are hoping to get clarity Thursday on how bad things could get.
August 16 -
The credit-reporting agency was fined $650,000 for sending customers marketing emails without an option to unsubscribe. Financial institutions are subject to the same law, called the CAN-SPAM Act.
August 15 -
Community bankers anticipate that interest rates could soon level off and the broader economy may avert a downturn as a result. If that forecast proves true, lenders could minimize credit losses and enjoy stronger loan demand than they had expected earlier in the year.
August 15 -
The Canadian bank committed Monday to lending and investing over $2 billion in the Garden State's lower- to middle-income communities over the next three years. A $50 billion, multistate agreement was scrapped earlier this year after TD failed to get approval to buy First Horizon.
August 14 -
Thomas O'Brien has gained a reputation for being able to salvage institutions on the brink of disaster. With his latest rescue job nearly complete, the fix-it specialist ponders his next move.
August 14 -
Chief Executive Andy Cecere is among the defendants in a shareholder lawsuit that alleges that top officials at the Minneapolis bank profited from the concealment of employee misconduct. A U.S. Bancorp spokesperson denied the allegations.
August 11 -
In his new book, "The Song of Significance," Seth Godin, a business management author, dives into how executives can rethink being profit driven and help create meaning in the work for employees.
August 11
