Economy

Goldman’s consumer unit, Marcus, has so far lost $1.3 billion; big lenders like JPMorgan Chase and Amex are making loans for small-ticket items like clothes and cosmetics.

With credit discrimination still legal in many states, the Michigan-based institution aims to help this marginalized group.

Nearly a third of the women in the annual ranking are new additions, the largest amount in years. Here's an overview of the changes. Plus, Citi's Corbat on its bold gender equity move, and Wells Fargo's less bold CEO decision.

Cathy Bessant, BofA’s chief operations officer, is the Most Powerful Woman in Banking; 6 standout fintechs at Finovate 2019; the Citi CEO says gender pay gap is ‘a challenge we need to tackle together’; and more from this week’s most-read stories.

Bank of New York Mellon’s quick decision to elevate the longtime executive to succeed Charles Scharf on an interim basis was well received. Will the board keep him, or search for an outsider for the long term?

Simone Grimes had alleged former FHFA Director Mel Watt made inappropriate advances toward her and she was paid less than the man who had previously held her position.

The three federal banking agencies moved to raise the threshold for residential transactions that require an appraisal from $250,000 to $400,000.

Warsaw Federal will keep its name and charter after joining First Mutual Holding in Lakewood, Ohio.

As businesses navigate the trade war, these loans can help cover anything from inventory to office supplies – any area where a business is taking a hit, says Become's Eden Amirav.

The Minneapolis bank said it will provide $8.2 million in grants to nonprofits that arm potential workers with cutting-edge skills and promote small-business growth. Banks say the investments will help them and their commercial customers close the skills gap.

The shareholders' claims against Fannie Mae and Freddie Mac's regulator mirror arguments in cases challenging the Consumer Financial Protection Bureau.

Regulators may be willing to grant new charters, but economic uncertainties, capital hurdles and inexperience have led the organizers of numerous bank startups to give up in the last few years.

Along with the largest number of credit unions and cooperatives to ever receive funding in a single grant round, several Puerto Rican cooperatives also received the maximum amount available to assist with hurricane recovery efforts.

Here are companies whose strong visions and timely ideas commanded attention at the technology conference in New York this week.

Here’s why we joined other banks globally in disclosing the environmental impact from loans and investments.

Credit union priorities could take a back seat as Congress scrambles to pass a spending package to avoid a government shutdown. Here's a look at some of the proposals that could move forward.

While no one is suggesting that the plan will help banks regain the share they've ceded to nonbanks, bankers believe that stabilizing Fannie Mae and Freddie Mac could at least help them keep what they have.

Industry groups are calling on the consumer bureau to eliminate the debt-to-income limit for “qualified mortgages” and provide a short-term extension of special treatment for Fannie- and Freddie-backed loans.

The bank has developed APIs to feed customer data directly to seven fintechs and data aggregators, including MX and Finicity.

FWBank would be led by Marianne Markowitz, former acting SBA director. Amy Fahey, a former JPMorgan Chase executive, would serve as chairman.