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As the potential for a recession looms, the New York bank is continuing with its plan to grow wealth management and shrink its foreign consumer banking footprint.

An American Bankers Association panel of experts predicted much slower economic growth, but agreed that the U.S. economy will avoid a recession over the next couple of years.

The Columbus, Ohio-based bank will incorporate corporate and customer-facing digital tools it obtained by acquiring fintech Digital Payments Torana in May.

The bank has developed Slingshot, a data management tool for customers of data company Snowflake, within its new business unit Capital One Software.

Total direct compensation for the chief executives at large and midsize banks rose by 21.5%, up from a 5% increase in 2020, according to a new analysis. Strong earnings growth and a hot stock market were key factors.

CEO Bill Demchak said Thursday that the banking industry has become a "political football," and that lawmakers lack the "backbone" to make broader decisions on climate change and various social issues.

A challenger bank, an alternative credit score company and a proposed federal credit union are improving access to banking and lending for those who have been in prison.

There is a gaping hole in the financial system in North Minneapolis, where people are preyed upon by payday lenders and fringe bankers, according to Debra Hurston, executive director of the Association for Black Economic Power. Hurston is creating a credit union for this community to help break residents out of a cycle of exploitation and debt. But the issue is far bigger than one city, and the opportunity is one that any bank or credit union can seize.

Shanika Sheppard needed funding to turn her Italian ice food cart into a larger business selling Philly cheesesteaks and other comfort foods. She's one of more than 520 small-business owners who’ve received loans of $150,000 or less under the bank's Lift Local program.

Consumers share loads of personal information online that scammers can use to break into their bank accounts. But Royal Bank of Canada is betting that users will still keep their PIN codes secure.

JPMorgan Chase CEO Jamie Dimon chastised institutional investors who follow the recommendations of proxy advisory services without doing their own homework. The comments came after the bank’s shareholders voted down pay packages for Dimon and other top executives.

JPMorgan Chase CEO Jamie Dimon expressed even deeper concern Wednesday about the likelihood of an economic downturn than he has in recent months. Wells Fargo CEO Charlie Scharf was less pessimistic, but he still spoke of the “reality that the economy has to slow.”

Kristy Carstensen, U.S. Bank Payment Services' chief financial officer, discusses how digital innovation projects are opening finance to more communities, and the work that remains.