Organization Root Tag

Some worry the Senate’s rejection of the OCC rule hampers efforts to clarify legal standards for banks selling loans to fintechs.

The Dallas bank appointed Sonya Trac to lead business development in communities that have been hit hard by both the pandemic-induced recession and a recent wave of discrimination. It is also depositing $2.5 million at a Los Angeles bank that serves Asian Americans.

The move formalizes the use of the Rocket Mortgage moniker, which has been a major part of the company’s branding since 2016.

Minority-led community development entities often lose out in getting NMTC support. They know best which investments will have the greatest impact on communities of color.

Three Republicans joined Senate Democrats in voting to overturn a rule issued by the Office of the Comptroller of the Currency that makes it easier for national banks to sell loans to nonbanks. A companion resolution has been introduced in the House.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.

Citigroup Chief Executive Jane Fraser said she’s “very bullish” on the immediate outlook for the U.S. economy, and the banking giant is still planning to add more branches around the country.

Apple provided in-depth detail on how many apps it rejected last year and why its iPhone payment system keeps customers secure, seeking to deflect claims from Epic Games that its review process and purchase system is a deterrent to competition.

Chairman Jelena McWilliams said the agency will issue a request for information "to learn more about what banks are doing, what banks are considering doing and what, if anything, the FDIC should be doing in this space.”

Zoom meetings may never go away, but in the fiercely competitive world of high finance, visits to faraway clients are starting to stage a rapid comeback.

Google is enabling cross-border payments within the Google Pay app through integrations with Western Union and U.K.-based remittance firm Wise.

The heads of the biggest banks have a chance to tout the industry's community outreach during the pandemic. But they can also expect tough questions about the Paycheck Protection Program as well as what banks are doing to address climate change, racial inequities and other hot-button issues.

Acting Comptroller of the Currency Michael Hsu said he plans to prioritize "solving urgent problems and addressing pressing issues" until the Biden administration selects a permanent head of the agency.

The FDIC said Financial Pacific Leasing, a subsidiary of the Oregon bank, charged undisclosed fees to borrowers, made excessive collection calls and disclosed information about customer debts to third parties.

The National Credit Union Administration issued only one prohibition order in April.

Malaysia’s 1MDB and a former unit have filed suits against firms including JPMorgan Chase and Deutsche Bank as the nation seeks to recover assets worth more than $23 billion linked to the scandal-plagued state-owned investment fund.

Other banks soured on their AR experiments, but Ally Financial says the technology has yielded higher-balance deposit accounts — and heavier social media engagement — in marketing campaigns.

American Express is trying to differentiate itself from other card networks by making loans through its bank and incorporating accounts payable services and lending technology it inherited with its acquisitions of Acompay and Kabbage.

American Express is trying to differentiate itself from other card networks by making loans through its bank and incorporating accounts payable services and lending technology it inherited with its acquisitions of Acompay and Kabbage.

The Cincinnati company's new Momentum checking and savings will give customers extra time to avoid overdraft fees, quicker access to paychecks and the option for advances on future direct deposits.