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One year after it bought First Republic Bank, the largest U.S. bank by assets is launching J.P. Morgan Private Client, a new tier in its affluent-consumer services that brings together JPMorgan's brand with First Republic's concierge model.
May 20 -
The Florida-based bank, which has been expanding across the South, would enter major markets such as Dallas and Houston with its planned all-stock acquisition of Independent Bank Group.
May 20 -
CEO Kevin Cohee is convinced WiseOne, the AI companion OneUnited Bank rolled out late last year, can help customers make better financial decisions. Cohee also wants to see his passion for personal fiscal improvement play to a wider audience, through development of a nationwide financial literacy curriculum.
May 15 -
Amex is working with Worldpay to reach businesses in the U.K., Western Union has resumed remittances to Cuba after shutting down that corridor in 2020, and more.
May 15 -
The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.
May 14 -
Stearns Bank in Saint Cloud is working with the on-demand payment technology firm Reset to launch an earned-wage card for blue collar and immigrant families struggling with access to money.
May 14 -
Regulation, credit quality and AI-fueled fraud are among the big concerns for banks and payment companies.
May 14 -
Part of the Consumer Financial Protection Bureau's mandate is to educate consumers by providing reliable information. With its credit card late fee "report" and the associated rulemaking, it has failed to live up to that responsibility.
May 14 -
Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.
May 9 -
Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
May 8