Organization Root Tag

By purchasing additional assets and securities, the Federal Reserve provided the financial markets with enough liquidity to weather the pandemic recession. But with the economy starting to recover, it needs to reduce such funding before it creates dangerous bubbles over the long term, say two former bankers.

Even before digital transactions took off as a result of the pandemic, chargebacks were becoming more common, says Chargehound's Pallavi Kuppa-Apte.

JPMorgan Chase said it plans to hire 300 additional Black and Latinx wealth advisers by 2025 to serve more clients from those communities and allow employees from diverse backgrounds to advance in their careers.

The abrupt shutdown of retail a year ago led to a rise of digital shopping — and fraud. And the most tech-savvy consumers may be the most vulnerable, according to TransUnion data.

Brown, who was most recently Goldman's chief diversity officer, will join Citigroup in the coming months as chief diversity, equity and inclusion officer and global head of talent.

The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.

Democrats have proposed a Congressional Review Act resolution to strike down the OCC rule, arguing it enables "rent-a-bank" schemes.

For banks that pass this year’s stress tests, the Federal Reserve said it will eliminate the restrictions on dividends and share buybacks while subjecting those institutions instead to the stress capital buffer.

The Rainforest Action Network says the 2020 decline stemmed more from weak energy demand during the pandemic than banks’ pledge to reduce financing to firms that contribute to climate change.

Former Obama-era regulators Kara Stein and Sarah Bloom Raskin, as well as Atlanta Fed President Raphael Bostic, have joined the field of potential nominees to lead the Office of the Comptroller of the Currency, according to sources familiar with the process.

The pandemic changed consumer priorities quickly--and payment companies need to keep up since the trend is likely permanent, says Signifyd's Indy Guha.

The abrupt shutdown of retail a year ago led to a rise of digital shopping — and fraud. And the most tech-savvy consumers may be the most vulnerable, according to TransUnion data.

Treasury Secretary Janet Yellen said she prefers to have the Financial Stability Oversight Council flag hazardous activities by nonbanks rather than subject specific firms to heightened supervision.

Complaints to the Consumer Financial Protection Bureau jumped 54% to 542,300 in 2020. Concerns about credit reports have long outnumbered those in other categories and jumped significantly as a share of the total from 2019.

Capital One Financial led a $170 million investment in the startup Hopper as the financial giant seeks to make a deeper push into travel.

The Minneapolis company teamed with the fintech Personetics to develop an automated-savings feature on its app that goes beyond most rival offerings by monitoring cash flow and spending to determine safe amounts to set aside.

Recurring transactions build relationships, are digitally friendly and can diversify product offerings, says Zuora's Michael Mansard.

Executive vice presidents and above will be evaluated on how they contributed to progress on efforts to curb the firm’s use of carbon, improve financial inclusion and reach gender-pay parity, CEO Michael Miebach said in a memo to staff.

Wells Fargo, disposing of units to simplify operations, agreed to sell its corporate trust business to Australia’s Computershare Ltd. for $750 million.

Keeping up with new retail trends shouldn’t come at the cost of keeping personal information safe, says Bluefin's Ruston Miles.