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Raymond, the former Exxon Mobil boss who has been on the bank's board for more than three decades, notified JPMorgan Chase of his intention to resign effective Dec. 31, according to a regulatory filing.

Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies.

The Swiss charges follow several recent scandals at the bank; the filing by the largest cryptocurrency exchange follows by one day bitcoin climbing past a record $21,000.

Daily edition for December 18, 2020.

The interior of a car or truck is a fintech frontier — one that is undergoing a trial by fire during the pandemic, including as a point of sale venue for small merchants.

While banks are reporting steady declines in deferrals, hard-hit borrowers such as airlines, commercial real estate developers and hotel operators will almost certainly struggle to regain their footing.

President and Chief Operating Officer Kevin Blair will take the helm in April at the company’s annual meeting while Kessel Stelling will transition to a new role as executive chairman.

Starting in 2022, hundreds of newly eligible institutions will be able to raise funds from investors. Bankers argued that the change will further blur the line between the two industries.

The agency said it may exempt certain institutions from having to file suspicious activity reports if they have “innovative solutions intended to meet Bank Secrecy Act requirements more efficiently and effectively." But in those circumstances, law enforcement may still require SARs.

The latest monthly Trends Report from CUNA Mutual Group showed October's year-over-year membership growth rate was the slowest since the fall of 2014.

The Federal Reserve has already agreed to shut down emergency credit programs funded by the Coronavirus Aid, Relief and Economic Security Act, but Sen. Pat Toomey, R-Pa., and others want Congress to ensure the central bank cannot revive them.

The bank scored highest on customers’ assessments of product offerings and satisfaction with digital channels among eight national banks studied.

Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift.

Incoming administration officials, especially Treasury Secretary-designate Janet Yellen, are expected to push for stress tests, public disclosures and other requirements aimed at gauging banks' climate exposure and minimizing the threat of global warming to the financial system.

The Detroit automaker says it will stick to car loans and steer clear of mortgage lending if regulators approve its application to establish an industrial bank.

The proposal builds on guidance the agency gave to Fannie Mae and Freddie Mac earlier this year.

Credit union trade groups said the regulator’s spending plan indicates the agency isn't listening to feedback and needs to make further cuts while providing more support for de novos.

The U.S. debit networks have always been strong supporters of open standards created through open, consensus building, says the Secure Remote Payment Council's Paul Tomasofsky.

Openpay, the latest firm to enter the U.S.’s booming buy now, pay later instant-credit market, has hired a team clearly braced for heavier competition and regulation ahead.

The company adds to a growing list of banks shutting branches to invest in technology offerings.