Banking

The deal should allow the prepaid card issuer to expand its footprint in a business it entered seven years ago.

Christine Channels will oversee a group of branches focused on low- and moderate-income areas, according to a memo from executives who run the division.

Five payments of $20 seems less detrimental to a wallet than a one-time $100 fee, says Four's Chaim Lever.

Earnings jump 24-fold as revenue surges by nearly 10 times, boosted by digital currency rally; online banks cater to people who say they’re not served well by mainstream lenders.

By becoming a bank, the digital-only challenger zigged when other fintechs zagged. Some of the short-term consequences of that decision — including heavy regulatory costs — are becoming clearer, but CEO Colin Walsh says the company is sticking with its long-term growth strategy.

The legislation, which the chamber passed Thursday, would ban collectors from making threatening statements to military service members and prevent credit bureaus from including debt arising from certain medical procedures.

Cardholders can now opt for installment loans at the point of sale on Amex's travel platform.

FinTrust Capital Partners in South Carolina has $2 billion of assets under management.

Princeton Portfolio Strategies Group would become the sixth asset management business that the New Jersey banking company has bought since 2014.

JPMorgan Chase, the biggest funder of fossil-fuel companies globally, is pledging a 35% reduction in “operational carbon intensity” for its oil and gas portfolio by the end of this decade.

The Diem project seeks U.S. regulatory approval to issue stablecoins to power its payments system; federal judge unfreezes the $5 billion Citigroup mistakenly sent to lenders last year.

Applications for small business and commercial real estate loans are rising, creating some optimism among lenders — and more temptation to loosen standards to land those borrowers.

The Pennsylvania company will offer commercial loans and treasury management services after hiring bankers in Dallas and Orlando.

The Facebook-affiliated currency, formerly Libra, aims to benefit from the bank's blockchain expertise and regulatory status.

Some worry the Senate’s rejection of the OCC rule hampers efforts to clarify legal standards for banks selling loans to fintechs.

The change reflects the name of the Susser family, which bought the bank in 2018.

The reduction in debt during the first quarter was the second largest on record, according to a new report by the New York Fed. Government stimulus payments and continuing limitations on travel and entertainment spending are key factors.

As profit margins shrink, Rocket and UWM expect to make it up on greater volume; the program would put the auctioneer in competition with traditional lenders and its former unit, PayPal.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.

Citigroup Chief Executive Jane Fraser said she’s “very bullish” on the immediate outlook for the U.S. economy, and the banking giant is still planning to add more branches around the country.