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Federal Reserve Chair Jerome Powell said he was “comfortable” with a recent speech by Gov. Lael Brainard objecting to significant aspects of the Community Reinvestment Act plan proposed by the OCC and FDIC.

The Wall Street bank aims to double consumer deposits and triple outstanding consumer loans in five years. A checking account is slated for 2021, and more cobranded credit cards could be coming.

Most stakeholders agree that the Community Reinvestment Act needs to be updated, but a congressional hearing featuring the regulator leading the overhaul effort showed just how contentious the process has become.

Digital receipts and rewards startup Flux has been gaining ground with retailers and challenger banks, and had continued the momentum by attracting investment from Barclays.

The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things.

While touting iPhone 11 as a big hit with consumers because of its various features and high-quality camera, Apple CEO Tim Cook also pointed to Apple Card as a reason the company's newest smartphone sold so well during the holidays.

JPMorgan Chase plans to dismiss several hundred workers from its consumer unit as the lender seeks to rein in costs, according to people briefed on the matter.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

Progress in the trade war is welcome news for Mastercard’s ambitions in China, though the coronavirus jeopardizes the rosy outlook.

Starbucks has invested heavily in building its business and payment technology in China, so the coronavirus weighs on an otherwise strong strong earnings performance.

The country’s banks plan to raise overdraft rates to 40%, which has regulator watching; starting this year pay increases won’t be retroactive to Jan. 1.

Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation has garnered no Republican support.

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.

The group, which serves community development credit unions, filed a brief suggesting that changing the bureau to a bipartisan commission could have an adverse impact on smaller institutions.

Comptroller of the Currency Joseph Otting upset some House Democrats when he was a no-show at a previous oversight hearing. They will now get a chance to question him about the future of the Community Reinvestment Act.

The recent Dodd-Frank rollbacks for smaller banks could encourage risk-taking that leads to a systemic issue.

The regulators plan to drop the 3% limit on bank investments in venture capital funds; Visa invests in another fintech startup.

As an early adopter of e-commerce in the 1990s, 1-800-Flowers.com is pushing the envelope again with 3-D and augmented reality technologies to sell floral arrangements with new payment options, including Venmo.

Lower rates spurred a lot of unexpected mortgage business in 2019 but credit unions need to prepare themselves for what happens once the boom ends.