USAA's regulatory troubles now include OCC fine, CRA downgrade

The $85 million penalty and the bank's "needs to improve" rating on its Community Reinvestment Act exam were tied to alleged violations of the Military Lending Act and Servicemembers Civil Relief Act.

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Citi execs silent on cost of risk overhaul

CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

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PNC unlikely to buy a digital bank, CEO Demchak says

The Pittsburgh company has reservations about the business model and staying power of online-only banks.

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First Citizens to buy CIT for $2.2 billion

The combined company would be the nation's 19th-largest bank with roughly $110 billion of assets.

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TD Bank sues Plaid for trademark infringement, false advertising

In a lawsuit filed Wednesday, the U.S. subsidiary of Toronto-Dominion Bank accused the data aggregator Plaid of improperly using the bank's name, trademarks and logos when it gathers TD customers' data.

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Wells Fargo faces growing pressure to slash costs

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

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Fintech partnerships help TD weather the pandemic

Mobile and online banking technologies that the Toronto bank previously rolled out, including a virtual assistant developed by Kasisto and money management tools made by Moven, have become much more popular since the arrival of COVID-19.

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JPMorgan Chase launches bank account for kids

Chase First Banking is embedded in the bank's mobile app and has parental controls. It is an example of how banks are trying to attract Generation Z.

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SBA streamlines forgiveness for PPP loans of $50,000 or less

Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.

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BofA adapting consumer tech for use with corporate clients

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

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