Organization Root Tag

The time has come for the payments industry to take a long, hard look at how we market and sell enhanced pricing programs, says Clearent's Phil Ricci.

The New York-based Citigroup is pushing ahead to set up new investment banking and trading operations in China after announcing it would be exiting retail banking in the world’s second-largest economy.

Federal standards “are apt to gum up the works,” says Sen. Cynthia Lummis.

A report to Congress from the National Credit Union Administration says the regulator has made "steady strides" toward greater diversity in its workforce and operations, but that progress is "just the beginning."

Surging used-car prices — brought on by a combination of strong consumer demand and limited new-vehicle supply — are boosting loan yields and profits at the Detroit company.

Citigroup, the world’s largest credit card issuer, is looking to jump-start efforts to acquire new cardholders after the pandemic caused it to curtail such activities last year.

Zions Bancorp. CEO Harris Simmons says the Secured Overnight Financing Rate is more suited for derivative traders than regional banks as a replacement for Libor. His bank this week became the largest to say it would use the alternative developed by the American Financial Exchange.

The company’s payments services business has struggled during the pandemic, but executives are counting on commercial clients’ embrace of real-time payments to help fuel the unit’s growth in 2021.

The San Antonio company will no longer charge fees on transactions of $100 or less that take checking account balances into negative territory, as long as the customer has a $500 monthly direct deposit set up.

Called by House and Senate Democrats, the hearings with the heads of the nation's six largest banks will take place over two days and will likely examine the industry's response to the pandemic and efforts to address climate change and racial equity.

The Charlotte, N.C., company has shuttered 400 branches in the past year and intends to close nearly 500 more by early 2022. It’s also eliminating office space and reducing headcount as it aims to keep quarterly expenses under $3 billion.

The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with the Justice Department came with a catch that eventually allowed Flagstar to pay far less.

The company will exit retail banking in 13 markets across Asia, Europe and elsewhere after a big drop in global consumer banking revenue. However, it far exceeded analysts' earnings estimates from dealmaking for special-purpose acquisition companies and other Wall Street operations.

JPMorgan Chase set a goal to finance $2.5 trillion in initiatives that combat climate change and advance sustainable development over the next 10 years, while Citigroup said it would back $1 trillion of similar efforts by 2030.

Rep. Andy Barr, R-Ky., has introduced legislation to make it easier for new community banks to open in areas that are underserved by the banking system.

Bank of America’s traders and investment bankers reaped another windfall, joining their Wall Street rivals in capitalizing on the stock market’s wild ride this year.

It's not just new transaction rails, but the speed of innovation has increased, says Hangar 75's Ian Wilding.

It was a rough quarter in retail banking for the bellwether bank, but a pickup in credit and debit card spending and a higher-than-expected release of loan-loss reserves bodes well for JPMorgan — and perhaps the industry as a whole.

Liu's promotion is one of a series of moves the company is making in its newly reorganized wealth management unit.

Business owners have shown little interest in taking on debt during the pandemic. Will their attitudes change as the economy improves?