Banking

JPM, PNC, Citi and Wells kick off reporting; Senate banking panel members want to know why so many agency staffers are paid so much.

The information you need to start your day, from PaymentsSource and around the Web. Today: China's version of Amazon Go grows quickly; The cops end a blockchain event in Beijing; Mastercard's hiring AI experts; Will tariffs make POS hardware more expensive?

Revenue and profit for the first three months of 2018 rose to all-time highs, the bank said Friday, spurred by record results from stock trading.

Regulators should revise existing rules to encourage banks to offer short-term loans to customers who run into financial emergencies.

Stilwell Group is trying to win a board seat at Wayne Savings Bancshares.

Acting CFPB Director Mick Mulvaney took heat from Democrats on whether he planned to take the agency's consumer complaint portal private while responding to Republican fears that its data collection activities pose a data security risk.

Opting out of doing business with the firearms industry is "troubling" behavior from banking institutions, said Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, during a hearing on Thursday.

The Chicago company said its decision was largely based on intense competition, very low margins and economic changes.

As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts.

Reps. Elijah Cummings and Stephen Lynch sought records related to a banker's communications with former Trump campaign manager Paul Manafort and the Trump campaign, and about his bank's loans to Manafort.

Orchard Platform Markets, a provider of lending data and services backed by the former heads of Citigroup and Morgan Stanley, is set to be acquired by the small-business lending platform Kabbage, said people familiar with the deal.

Investors are growing worried about lackluster loan growth this year at community banks.

The Treasury Department’s long-awaited report on modernizing the Community Reinvestment Act was heavy on glittering generalities but light on specifics, which explains why the report punted the real job of making needed reforms.

Loan growth and higher yields helped offset a 20% increase in expenses at the Arkansas bank in the first quarter. Meanwhile, it warned of one-time rebranding costs to come in the third quarter.

Bank of America is investing heavily in videoconferencing at unstaffed branches, Citigroup is experimenting with gamification and Union Bank’s PurePoint Financial is going entirely paperless.

Longtime payments industry executive Kim Crawford Goodman has been named president of card services at Fiserv, where she will oversee the payments and ATM services, including credit and debit processing.

The 106-year-old bank is looking to raise $90 million, with plans to use half of the funds to redeem outstanding preferred stock.

The bank says its partnership with Lender Price will help streamline and simplify its home loan process.

By reducing, or completely removing, paper-based billing through automation, your company can drastically reduce its environmental impact, writes Colleen Ciak, head of eAdoption at Billtrust.

The company will add a representative of Stilwell Group to its board. The investment firm, which has long criticized HopFed's leadership and strategy, agreed to support the company's recommendations at future annual meetings.