Banking

Capital One Financial is reining in credit lines to reduce its exposure while the nation’s largest card issuer, JPMorgan Chase, is rolling out a new card designed for travelers and diners.

Gary Elliott will retire at the end of 2020, and the credit union has hired a search firm to help find its next leader.

Central banks “have conspired to destroy returns” with monetary policy and dividend constraints, the FT argues; JPMorgan Chase hired the Vanguard vet to lead its phone and video-based financial advice unit.

CO-OP, a credit union payments firm, has teamed with the fintech to expand usage of digital payments offerings. But it's unclear to what extent members want those services.

The California plan to create a new, tougher state regulatory agency is at the finish line after lawmakers agreed to key exemptions for banks while maintaining strong enforcement measures for payday lenders and other firms.

The deal continues Sound's push into markets north of its Tacoma headquarters.

The bank is making continuous improvements, including integrating Merrill Lynch accounts into its banking app and adding a security feature to Zelle.

Year to date through Jun. 30, 2020. Dollars in thousands.

Year to date through Jun. 30, 2020. Dollars in thousands.

The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators.

The hedge fund being started by the former acting head of the CFBP aims to bet on financial services stocks; large and small institutions are getting hit from all sides by the pandemic.

A variety of new tools and strategies are emerging to manage payroll, billing, balances and cash management, says Bank of America's Karen Ly.

After dropping for the past two years, reputation scores are once again rising, thanks largely to the goodwill banks have earned by helping customers and employees weather the coronavirus outbreak.

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds before the bank's December 2017 collapse.

The legislation, which would apply to both banks and nonbanks, would give borrowers the right to sue for damages when servicing violations occur.

The company said the sale will provide more consistent financial results and allow it to redeploy funds to support other businesses.

The Iowa company said the coronavirus outbreak and litigation against AimBank will postpone the deal's completion by a few months.

Mike Duncan had kept a low profile as chairman of the U.S. Postal Service’s board of governors until it hired Louis DeJoy as postmaster general. Now he is sharing an unwanted spotlight with the embattled DeJoy.

Bankers have long opposed the idea of the U.S. Postal Service taking deposits and making loans directly, but some in the industry are open to the idea of letting banks and credit unions offer services at post offices.

Bank of America and Clinton Savings Bank in Massachusetts are targeting consumers at a young age and hoping to keep them for life.