Retail & Commercial

JPMorgan Chase's new Sapphire Reserve credit card will reduce the bank’s profit by $200 million to $300 million in the fourth quarter, according to CEO Jamie Dimon.

First NBC Bank in New Orleans, which has been dealing with issues tied to its tax-credit business and concerns about capital, has removed its chief executive.

TriState Capital Holdings in Pittsburgh has terminated an agreement to buy a fixed-income team.

Large financial services firms are right to fight data-aggregation access, but they'll lose this fight to arguments based on innovation and "inclusion" if they do not quickly enhance their own value proposition.

A trio of activist investors is targeting big U.S. financial institutions in 2017, demanding they disclose compensation data for men and women, and publish statistics about the race and gender of their employees.

Ray Davis is stepping down as Umpqua's CEO at yearend and transitioning to a new role as head of its year-old innovation lab. In his 22 years, he built Umpqua from a sleepy local bank into a regional powerhouse and internationally recognized brand.

The $9 billion-asset company said in a press release Monday that it bought the business assets of Ronald N. Lazzaro in Rutland, Vt., a financial planning an investment services firm.

Banks and credit unions in California plan to participate in a new working group that will focus on the cannabis industry's lack of access to the mainstream financial system, according to state officials.

Plaza Bank in Seattle has promoted its chief lending officer to become CEO. The $65 million-asset bank said in a press release Monday that Michael Anderson also succeeded Michael Clabby as president on Nov. 23.

Alliance Data Systems, a Texas-based card issuer, has scrapped plans to let rewards points expire after customers north of the border revolted.