Organization Root Tag

Gillin joined JPMorgan four years ago to lead the bank’s co-brand credit card business. She was chief marketing officer for about a year.

The decision is seen as a setback for the banking industry, which had been pushing for an extension, and a win for Democrats, who have argued that a pandemic is no time for banks to be shedding capital.

The deal can potentially boost payments on both sides, but also open new avenues such as merchandising and related content, says Kunai's Tarun Bhasin.

Democrats want regulators to actively protect the financial system from losses tied to extreme weather events, while Republicans say climate policy is "beyond the scope" of their mission.

About 2,000 credit unions will receive a disbursement in connection with the failure of three corporates during the financial crisis, but the agency indicated nearly $2 billion in additional payments could be coming.

The legislation easily passed the House in 2019 but was never considered in the Senate. Observers see a more promising path forward this time.

TomoCredit relies strictly on cash-flow data to gauge the creditworthiness of immigrants and young consumers, who often have too little financial history for traditional scoring models.

Potential central bank digital currencies would need to be integrated into existing payment systems alongside cash and other forms of money, Federal Reserve Chair Jerome Powell said.

Goldman Sachs Group’s plan to move part of its asset management unit to Florida is gaining momentum, as the Wall Street bank discreetly seeks volunteers for the first wave and prepares office space.

A new report from the regulator shows slower growth in membership and lending, as well as a decline in the number of credit unions reporting profits.

Jelena McWilliams, a Trump appointee, pushed back Wednesday on reports that an incoming Democratic majority may be able to enact policy at the Federal Deposit Insurance Corp. without her support. "The chairman really controls the board agenda," she said.

The Federal Reserve will determine within days whether to extend the easing of the supplementary leverage ratio for big banks past March 31, Chairman Jerome Powell says. And it's a couple of weeks away from announcing whether there will be limits on second-quarter dividends and buybacks, he says.

The Ohio Democrat and chairman of the Senate Banking Committee told a virtual gathering of the American Bankers Association that FedAccounts, a plan opposed by industry trade groups, will lead to more bank customers.

"On streets, online and in many Asian-owned small businesses, we are seeing physical assault, verbal harassment and refusal of service," JPMorgan Chase CEO Jamie Dimon wrote in a memo to staff. "These racist acts cannot — and will not — be tolerated."

Wells Fargo Chief Executive Charlie Scharf said he sees the U.S. economy coming back from the coronavirus pandemic in a strong way in the second half of the year.

The IRS, FDIC and more than 70 banks and credit unions are urging consumers to open affordable accounts so they can receive their Economic Impact Payments quickly and safely. Many people have signed up, but millions lack accounts and will be harder to serve.

First Internet CEO David Becker used to be dismissive of the Small Business Administration. But after getting to know some of the borrowers during the pandemic — and after his bank collected hefty fees from selling 7(a) loans — he's become a convert.

JPMorgan Chase scrubbed its bylaws of gender designations as pressure grows from both society and investors on global businesses to show they are diversifying and becoming more inclusive.

The State Department has added 14 Chinese lawmakers, including a member of the Communist Party’s ruling Politburo, to a blacklist under the Hong Kong Autonomy Act. Banks face sanctions if they do business with them.

The two banks are pushing back against shareholder requests for sweeping audits of how they handle racial equity as the industry faces mounting public scrutiny of its historic role in economic disparities.