Organization Root Tag

After employees at a handful of Wells Fargo branches voted to unionize, CEO Charlie Scharf said the bank is "committed to bargaining in good faith" but also believes employees are "best served by working directly" with managers.

Resolutions calling for more details about how the two banks protect Indigenous people's rights failed to win majority approval on Tuesday. JPMorgan Chase shareholders are scheduled to vote on a similar proposal next month.

Noel Quinn is leaving after four years in the role. It's the third time in six years that HSBC has had to look for a new chief executive.

But strong g-fees, a positive credit-loss adjustment and stable home prices bolstered results despite declines in mortgage purchases to lows not seen in some time.

Isabel Casillas Guzman, administrator of the Small Business Administration, wants the agency to get involved in direct lending, a practice that was discontinued during the Clinton administration. Congress has not embraced the idea, to put it mildly.

The Federal Deposit Insurance Corp. is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow. Three industry groups are suing the state in an effort to stop its attempted crackdown.

The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.

The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.

The agency has a history of tangling with parent companies over how to split the burden after banking units collapse.

Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.

Capital One, like Discover, is showing signs of greater stress in its loan portfolio. Credit-card write-offs totaled $2.2 billion in the first quarter, a 61% increase from a year earlier.

Recent economic data have shown inflation stubbornly above the Fed's 2% target, putting rate cuts in jeopardy. Lauren Saidel-Baker, an economist with ITR Economics, parses the FOMC meeting, Chair Powell's press conference and takes a look at future policy.

The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.

At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.

The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.

Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.

Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.

The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.