Retail & Commercial

JPMorgan Chase is acquiring the Infatuation, a restaurant-guide company that owns Zagat, as the bank seeks to expand its consumer offerings to credit card users and other customers.

Merchants will be able to offer the interest-free installment product starting in October. One of Synchrony’s retail partners, Amazon, announced a buy now/pay later partnership with Affirm last month.

A U.S. judge signaled he won’t immediately terminate Libor, rejecting an effort by a group of borrowers who argued the benchmark is the product of a “price-fixing cartel.”

Banks that embraced their role as a conduit for Paycheck Protection Program loans were likelier to take more risk elsewhere, according to new research by three accounting professors. “Anytime you have that amount of money flowing through the bank, it’s going to affect behavior,” one of the authors said.

The consumer bureau is suing the online lender for allegedly violating a 2016 consent order involving its marketing claims. Acting Director Dave Uejio said the company doubled down “after getting caught the first time.”

A new service offered by the company helps clients automatically capture payment and invoice information as well as make sure the data matches.

Its $53 million purchase of Pacific Enterprise Bank would be BayCom's 10th bank acquisition since 2010.

The market for short-term installment credit is growing among millennials and Gen Z consumers who distrust credit cards. Banks are letting a golden opportunity slip away.

James Kim will succeed James Ford, who is retiring, as chief executive.

Net income significantly recovered compared with a year earlier, totaling $70.4 billion. But the average net interest margin fell to another record low as lending remained sluggish, the FDIC said in its quarterly update.