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Law enforcement's recent crackdown on shady operators paved the way for Amazon to bring broader scale and transparency to the lucrative market of lending to merchants.
November 1
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Kristy Fercho, who's run the bank's home lending division since August 2020, will report directly to CEO Charlie Scharf and sit on the operating committee. Last year, she became the first Black person to chair the Mortgage Bankers Association, and she took the top spot in American Banker's Most Powerful Women to Watch this year.
November 1
- Software development
The Platform Solutions group, headed by former chief strategy officer Stephanie Cohen, is building embedded banking solutions for corporate clients.
November 1
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Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.
November 1
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In this month's roundup of American Banker's favorite stories: JPMorgan Chase moves third parties away from screen scraping, Wells Fargo launches its new virtual assistant, bank CEOs predict a return to office within the next three years and more.
October 31
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The proliferation of mobile banking and online payment services like PayPal is one of several reasons more consumers have joined the financial mainstream, according to the FDIC's latest report on Americans' access to banking services.
October 31
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Almost 70% of bank chief executives surveyed by KPMG said they envision fully in-office working environments within the next three years. That is close to double the average of other white-collar industries.
October 30
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High-net-worth clients with large policies borrow, on average, $500,000 to $800,000 to pay their premiums. Peapack-Gladstone predicts the product, which it launched this month, will be one of its top business lines within six years.
October 28
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Cashier-free checkout firms such as Nayax and Pye, which just inked a distribution deal with JPMorgan Chase, see opportunities for their technology to help retailers respond to economic and hiring trends.
October 28
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Speakers at American Banker's Most Powerful Women in Banking gala acknowledged that many women have made it to high positions, but the number of female CEOs is still tiny.
October 27
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With the 2022 midterm elections around the corner, Democrats are losing steam and Republicans are banking big on economic malaise turning swing voters their way.
October 27
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Kristin Lemkau, CEO of J.P. Morgan Wealth Management, discussed the launch of the company's Personal Advisors hybrid advisory channel and the challenges of managing and recruiting talent at American Banker's Most Powerful Women in Banking conference.
October 27
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During a panel discussion at American Banker's Most Powerful Women in Banking conference, three executives spoke about how mentors helped shape their own careers, and how they continue to provide a pipeline for future generations of senior leaders.
October 27
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Traditional banks are focusing on wealth management services in the next wave of digitization as retail banking returns weaken amid a proliferation of online consumer platforms.
October 27
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Hong Kong's big financial summit planned for next week to promote the city's reopening lost a key attendee as Citigroup Chief Executive Officer Jane Fraser was diagnosed with COVID.
October 27
