Banking

Mike Weinbach, chief executive of the home lending business, is departing JPMorgan Chase after 16 years.

Banks would be allowed to own stakes in venture capital funds; the combined BB&T-SunTrust isn’t realizing cost savings as fast as it projected.

Slowing sales, decreasing market share and other factors could make it harder for credit unions to grow one of the industry's biggest products in the year ahead.

Millennials especially have shunned credit cards in favor of buying even low-ticket items using a system of installment loans, often incurring little to no interest, says Jifiti's Nufar Segal.

Lenders that depend on the Export-Import Bank to back loans to exporters are already seeing business borrowing pick up after Congress reauthorized the agency in December.

The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.

Kenneth Lehman, a former banking attorney who acquires large stakes in small banks, will buy BankFlorida, which lost $555,000 through the first nine months of 2019.

The head of the small-bank trade group called for hearings to discuss tougher limits on credit union acquisitions of banks.

The company has revised its near-term forecasts for reducing expenses, citing delayed branch closings and a decision to spend more time testing systems ahead of conversion and integration.

No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.

The benefits include improved financial inclusion, the chairman of the NCUA argues.

The benefits include improved financial inclusion, the chairman of the NCUA argues.

The bank raised its return-on-equity goals, based mostly on cost cuts and its core trading business; the Fed did raise the rate it pays on bank reserves.

The promise of post-closing payments encourages top executives to pursue deals that aren’t necessarily in their self-interest, but investors may eventually raise concerns that the packages are expensive and too focused on the short term.

The Los Angeles company set aside more money to cover a problem loan after an updated appraisal of the credit's collateral.

The Wall Street bank aims to double consumer deposits and triple outstanding consumer loans in five years. A checking account is slated for 2021, and more cobranded credit cards could be coming.

Loans made for Fiat Chrysler represented the largest chunk of Santander Consumer's lending in the fourth quarter, and Mahesh Aditya said their relationship is his top priority.

Cassandra McKinney's promotion to executive vice president of the retail bank is the latest executive move by Curt Farmer, who became the Dallas company's CEO in April.

The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things.

If consumers suddenly change bill pay habits, many processing systems and third party collectors will be overtaxed, says Alorica's Jay King.