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The announcement comes about six months after Boston-based Eastern raised $1.7 billion through an initial public offering.

The Department of Justice in the Trump administration hatched a plan to consider reforming its bank-merger review process, raising industry hopes about overhauling the outdated regime. But progressives want the agency to give more thought to the harm bank combinations cause consumers, including further branch closings.

Instacart has reached a deal with JPMorgan Chase to offer a credit card to customers who’ve flocked to the grocery delivery service during pandemic lockdowns.

The consumer bureau is proposing to give companies until January 2022 to comply with one rule regarding communications from collectors and another clarifying disclosure requirements.

In his annual message to investors, the JPMorgan Chase CEO said Big Tech and fintechs are "here to stay" and vowed to be aggressive in taking on these new challengers. He also predicted that the economy would take off this year, but said capital rules prevented banks from doing more to help blunt the impact of the pandemic recession.

HoldCo Asset Management is trying to convince shareholders ahead of an April 27 vote that the deal's $900 million price is too low, while Boston Private's board characterized its negotiations as "carefully designed and calibrated."

After Wells Fargo became the first of the largest U.S. banks to do away with mandatory arbitration for sexual harassment complaints last year, Goldman Sachs Group is being urged to take steps in the same direction.

Gift card giant Blackhawk Network has partnered with Bakkt, which offers an app to manage various digital currencies.

The technology excels at spotting money laundering and suspicious transactions, but it still can't be trusted to help bank customers make big decisions, such as what to do with retirement savings.

Like their counterparts in the U.K., U.S. regulators should be working closely with the private sector to establish principles and guardrails to direct and focus tech advancements in ways that will protect consumers and financial stability.

Variables unique to the past year, such as the effect of government stimulus, are not fully considered in typical credit scores. For a more complete picture, the industry should accelerate a digital transformation in scoring models.

President Biden said he hasn’t spoken with Federal Reserve Chair Jerome Powell since taking office more than two months ago, citing respect for the central bank’s independence and marking a sharp turn from his predecessor, Donald Trump.

JAM FINTOP Banktech will fund startups that offer services designed for the banking industry. All 66 limited partners are banks.

Digital identity data provider Ekata is launching a merchant onboarding process to help payment service providers, B2B lenders and marketplaces quickly add micro merchants and sole proprietors as customers.

In his annual letter shareholders, JPMorgan Chase CEO Jamie Dimon said banks are facing "enormous competitive threats — from virtually every angle."

The data aggregator, whose planned merger with Visa was called off in January, intends to use the funds to accelerate its global expansion.

The Crypto Council for Innovation wants a voice in how bitcoin is regulated; the #GetBanked public awareness campaign aims to help people without accounts get stimulus checks faster.

The fintech is one of several that have drawn capital to eliminate the challenges of international commerce.

Companies that can pay people quickly and flexibly will have an advantage, says Payslip's Fidelma McGuirk.

Daily edition for April 07, 2021.