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The Minnesota bank was able to realize a large net tax benefit in the same quarter it took a big charge to exit auto lending, so in the end its profits doubled.

The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.

The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday.

If the company they plan to establish comes together and works — still a big if — it could give JPMorgan an edge in competing with other banks, lead to innovative payments and other products and create unforeseen issues.

Hadley Robbins had a difficult task stepping in after Melanie Dressel's unexpected death last year. Now he must find ways to keep expanding without disrupting a system that has proved successful.

Wells has tapped Sarah Dahlgren for a newly created position overseeing regulatory relations as the megabank tries try to remove the cloud of its phony-accounts scandal.

American Express has acquired artificial intelligence technology provider Mezi, which has powered the AskAmex application in the past to help card members find and book travel, dining and entertainment through messaging via iPhones.

Global payment and fraud prevention provider Pelican is bringing its faster payments system to the North America market after working within the European SEPA Instant Payments scheme last year.

The pioneering brand re-enters a market where fintechs now account for over 30% of personal loan originations.

The Mobile Act would allow financial institutions to scan or copy a customer’s photo ID when opening an account remotely, while another bill contained provisions that would protect bankers from lawsuits if they report suspected elder financial abuse.