Organization Root Tag

The company missed estimates for net interest income in the first quarter, a sign that muted loan growth and increased pressure to pay out more for deposits are eating into the benefit of higher rates. 

Large U.S. banks have mostly staved off previous shareholder-backed efforts to ensure their CEOs also don't lead their boards. The issue will soon be put to a vote at JPMorgan Chase, Bank of America and Goldman Sachs.

New York Community Bancorp took a massive loan-loss provision and slashed its dividend to meet tougher capital and liquidity requirements after rocketing by that asset mark. A half dozen regionals face tough questions about whether they're better prepared than NYCB, which had to be rescued.

Business trade groups are expected to prevail in getting an emergency stay to stop the Consumer Financial Protection Bureau's $8 late fee rule from going into effect on May 14. However, the lawsuit would still have many steps to go after such a decision.

The SEC and the Treasury's Financial Crimes Enforcement Network have sought information on certain clients outside the U.S. who've raised red flags and the bank's policies to address it.

Rep. Andy Barr, R-Ky., and Sen. Thom Tillis, R-N.C., told the Consumer Financial Protection Bureau that pursuing a rulemaking on forced arbitration, as laid out by consumer advocates' rulemaking petition, would be an "affront to Congress."

To protect their own talent pipeline, financial companies need to make sure that they're not only protecting the entry-level roles that AI threatens to take over, but getting the enthusiastic buy-in of the people most likely to be affected, according to experts from Fiserv, Segpay and Featurespace.

Kinecta Wealth Management, the wealth arm of Kinecta Federal Credit Union, will switch firms by the end of the year.

With the market predicting fewer interest rate cuts than previously anticipated, analysts expect some larger banks will increase their 2024 guidance for net interest income when they start reporting earnings on Friday.

The Federal Reserve Board governor and frequent regulatory critic says it would be appropriate for the U.S. to deviate from the agreed-upon international standards to reflect "unique characteristics" of the American banking system.

Unintended consequences of shifting the burden for title insurance to the lender could end up harming consumers, several observers said.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg says the agency would likely use a resolution strategy for a global systemically important bank that puts the holding company into resolution and keeps subsidiaries operating under a bridge company.

JPMorgan Chase's board has announced the slate of candidates to replace Jamie Dimon if he ever retires. The bank is just one of several large institutions that have recently decided on who will take over the top job.

Mastercard established a new structure for businesses focused on card acceptance and transaction processing, new payment flows and value-added services. Separately, the Federal Reserve Bank of New York is joining several countries' central banks in a test of tech to support cross-border transactions.

The memorandum creates channels for sharing information about nonbanks between the Federal Housing Finance Agency and the Conference of State Bank Supervisors.

Some online banks that offer high-yield savings accounts are making those products a little less high-yielding. Banks are also shortening the duration of new CDs, hoping that anticipated rate cuts by the Fed will enable them to start paying less to consumers.

The change came to light Monday after West Virginia Treasurer Riley Moore took a victory lap in an announcement of the financial firms it was adding to its boycott list, which doesn't include BMO.

A new report sheds light on the lack of player protections against scams and exploitive data collection practices of video game companies.

In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon wrote that the bank has identified more than 400 use cases for artificial intelligence across marketing, fraud and risk. It has also amassed thousands of AI experts and data scientists and begun exploring deploying generative AI.

The company has long been criticized for its lagging financial performance and its complexity. CEO Jane Fraser is pushing through Citigroup's most recent transformation plan, but will she succeed where her predecessors have failed?