Banking

Bank critics and some lawmakers quickly seized on a tone-deaf posting by JPMorgan Chase that was designed to tout the virtues of saving money.

The Birmingham, Ala., bank's profits fell 32% as its loan-loss provision tripled. The expense covered “isolated, one-off issues” in its commercial and consumer loan portfolios, CEO Javier Rodriguez Soler said.

Even as consumer and CRE lending slowed in the first quarter, business lending — particularly to middle-market companies — surged. But some banks are already warning that the growth could taper off as competition from nonbanks heats up.

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors.

Citigroup has hired Murli Buluswar as head of analytics and information management in its U.S. consumer banking segment. It also has promoted Tracey Warson from head of Citi Private Bank, North America, to chairman of the unit.

The NCUA is letting Union Yes in California raise capital by turning to temporary funding sources, which banks have complained is an example of the regulator's overreach.

The Houston company has already converted the systems and brand from January's acquisition, allowing it to focus more on bringing in business.

The NCUA is letting Union Yes in California raise capital by turning to temporary funding sources, which banks have complained is an example of the regulator's overreach.

Built Technologies will use the money to invest in research and development while it builds out its client base.

Congress has returned from its two-week vacation with plans to debate a number of issues important to the credit union industry.

Many banks rely on the location data they get from carriers through data aggregators to spot fraudulent transactions. With telecom companies shutting that source down, banks are worried it could significantly hurt their capacity to detect fraud.

On Dec. 31, 2018. Dollars in thousands.

On Dec. 31, 2018. Dollars in thousands.

Wall Street moves to compete with the low-fee financial services giant; activist investor has an uphill climb for a seat at this week’s annual meeting.

The information you need to start your day, from PaymentsSource and around the Web. Today: Visa extends financial inclusion in Pakistan, Africa; India cracks down on crypto; Sinemia closes; Swedbank responds to AML investigations.

The use of digital payments offers significant savings over check cashing. Payroll cards and public-sector prepaid cards issued for the deposit of government benefits are two of the best known examples, writes Andrew Gillen, vice president for Global Public Sector Payment Solutions for Mastercard.

Get ready to meet 15 women — ages 40 and under — whose accomplishments and influence set them apart.

"If you gathered the U.S.-based senior counsels of the major Chinese banks operating in the United States," said Joseph Loffredo, assistant general manager and chief financial officer at the New York branch of China Merchants Bank, "you'd find one outlier, a lady about half the age of most of the others."

How Jamie Dimon's salary ties into the broader discussion about pay inequity; how 5G could change the future of banking; Comerica's first new CEO in 17 years; and more from this week's most-read stories.

Banks from the North and South are converging on the city, spurred by a spike in deposits and employment numbers that trump national averages.