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Wells Fargo said it’s shutting down all existing personal lines of credit and will no longer offer the product to its customers.
July 8
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The San Francisco data aggregator, which also operates out of London, provides international connections between fintechs and traditional banks.
July 8
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Bank of America created a new team dedicated to researching cryptocurrencies, marking Wall Street’s latest push to capitalize on investors’ frenzy for digital assets.
July 8
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Bliss, which is part of a suite of apps under development by the mobile technology company Euphoria.LGBT, is working with Jiko to offer a tailored savings account for transgender individuals preparing for their transition.
July 8
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The Treasury Department is awarding $1.25 billion to 863 community development financial institutions through the Rapid Response Program, which allows banks and credit unions to earmark funds for mortgages and business loans in underserved markets.
July 8
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JPMorgan Chase is cutting the annual fee of its top-tier card while American Express is raising the fee of its own premium card. Both banks hope to win consumers' travel dollars by finding the sweet spot between cost and rewards.
July 8
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Prosecutors have rested their case against onetime bank CEO Stephen Calk, who allegedly approved millions of dollars in loans in exchange for a potential job in the Trump administration. Federal Savings Bank employees have testified against Calk, whose lawyers have sought to shift blame to underlings
July 8
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The White House's firing of Federal Housing Finance Agency Director Mark Calabria sparked immediate speculation about who will run the agency and help chart the future of the two mortgage giants. Potential nominees include ex-Obama administration officials, congressional staffers and members of the Biden transition team.
July 8
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The company angered hundreds of customers when its software flagged their accounts as suspicious and suddenly cut them off, according to a ProPublica report. The episode illustrates the challenge shared by fintechs and banks of rooting out scammers without being overzealous.
July 7
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The Purchase, New York, credit union named Jeffrey Pachter as its next CEO. He succeeds Bruno Sementilli, who is retiring next year.
July 7
