Capital One

Wells Fargo puts two top execs on leave as scandal's reach grows; regional banks freed from SIFI label lobbying regulators hard for more relief; FDIC to launch innovation office to help banks compete with fintechs; and more from this week's most-read stories.

A smaller provision for loan losses helped counteract declining loan volume and higher expenses during the third quarter.

The civil money penalty from the Office of the Comptroller of the Currency follows a 2015 consent order against the bank, which became a subject of federal questioning after it suspended its business with check cashers.

The Stamford, Conn.-based company reported 9% growth in net interest income and 14% growth in loan receivables during the third quarter, attributing the improvements to addition of the PayPal Credit portfolio in early July.

The two megabanks face different problems, as Bank of America customers are frustrated over fees and customer service while Wells customers are alarmed about the bank's recent scandals.

Amazon's voice assistant will soon be in cars and even microwaves, but banks have not yet proven to customers they can serve them with conversational tech.

The bank chalked up its outage to "a normal system upgrade that experienced technical difficulty."

No outrage over more Wells disclosures; Steve Calk accused of conspiring with Manafort against his own bank; FBI warns banks about threat to ATMs; and more from this week's most-read stories.

Capital One's dispute with Plaid raised questions about the ability of banks and aggregators to work together. But the end of that fight, and Capital One's deal with Finicity, show common ground can be reached — eventually.

The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands.

Synchrony Financial said its credit-card deal with Walmart won't be renewed and will expire next year. The largest issuer of store cards said Thursday that it's evaluating whether to sell the $10 billion in balances or retain the portfolio and convert qualifying customers to general purpose credit cards.

Credit card and auto loans grew again in the second quarter at the McLean, Va., company, and the net charge-off rates of both business lines fell, too.

Banks should more widely adopt application programming interfaces for sharing customer data with third parties because it's the best approach to ensuring information stays safe.

Other aggregators came to the bank's defense, while one CEO suggested Plaid's very public protest was unfounded.

With Walmart reportedly weighing bids from Capital One alongside incumbent Synchrony Financial to handle its private-label credit card account, Synchrony's use of data and artificial intelligence are more important than ever.

Jennifer Jackson will succeed Shane Holdaway as head of the Toronto-based unit, which has 1,200 employees.

Whatever the reason that Plaid, a prominent data aggregator, can no longer access data from Capital One, the situation demonstrates how fragile fintechs are when they lose banking access.

Whatever the reason that Plaid, a prominent data aggregator, can no longer access data from Capital One, the situation demonstrates how fragile fintechs are when they lose banking access.

Credit One Bank is America's fastest-growing credit card issuer. It's also the most complained about.

Capital One Financial Corp. is limiting how account data flows to outside apps for managing finances, prompting a backlash from the bank’s customers who say they have been locked out of their own information.