Capital One

The Clearing House is pushing contract terms that would give fintechs quicker access to consumers' financial information, but one large upstart has taken issue with the proposal's language.

The two previously worked at BNY Mellon in similar roles, Scharf as CEO and Daley as head of public affairs; Michael Johnson’s demotion follows the bank’s massive data breach in July.

New tech lets American Express instantly issue cards to immigrants; the end of Libor raises concerns about financial stability; regulators shutter banks in Kentucky and Ohio; and more from this week's most-read stories.

The company is under law enforcement scrutiny for loans that helped propel a boom and bust in the taxi medallion market in New York City.

The credit card issuer, which recorded an 11% decline in net income last quarter, took one-time charges in connection with a U.K. sales scandal, the start of a new partnership with Walmart and a recent data breach.

The Federal Trade Commission should look into whether Amazon’s failure to secure its services “constitutes an unfair business practice,” which would violate federal law, Sens. Elizabeth Warren and Ron Wyden wrote the agency's chairman.

The credit card lender responded to the closing of Toys R Us stores last year by issuing Synchrony-branded cards to the retailer's customers. Now it's testing a general-purpose card with a wider array of clients.

The retailer and credit card giant are rolling out two new card offerings. The move could hit especially close to home for CUs with branches inside Walmart locations.

Democratic lawmakers and consumer advocates say the remedies offered to consumers by firms like Capital One and Equifax are too difficult to access and not particularly helpful.

The launch of the products comes more than a year after Capital One wrested the Walmart partnership from Synchrony Financial.

CEOs have been telling investors that if the Fed continues to cut interest rates, they will lower rates they are paying on deposits to minimize the hit to net interest margins. The danger is that if they lower rates too quickly or by too much, big depositors could go elsewhere.

Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in equity funding.

The Pittsburgh company is not interested in bank acquisitions, CEO Demchak says; why Citi, Wells, JPMorgan are seeing a spike in API calls; FHFA's Mark Calabria details next steps on GSE reform; and more from this week's most-read stories.

The lawmakers, including Sens. Sherrod Brown and Elizabeth Warren, sent the bank a letter focusing on customers' difficulty enrolling in credit monitoring and identity protection services.

The company still intends to shut down its data centers next year even as the recent hacking that exposed the data of some 100 million people raised questions about its aggressive embrace of cloud computing.

At the same time, consumers hold banks to tougher disclosure standards than government agencies, health care organizations and retailers, according to Experian.

With lots of day-to-day IT tasks and countless systems to configure, it's easy to make mistakes, says Brian Kelly, CEO of CloudBolt.

A J.D. Power official says supplemental benefits — many centered on travel cards — need to be pared down. His comments followed the company’s release of survey data that showed these hard-to-understand benefits were a drag on customer satisfaction.

There is always the chance that privileged employees will either become bad actors who use their access to confidential data for their own gain, or that they will succumb to a hacking attempt and thereby open the door to an external bad actor, says Unisys' Maria Allen.

Capital One agreed to buy KippsDeSanto, a Northern Virginia company that specializes in advice to the defense and government contracting sectors.