Fintech

A proposal by Sen. Josh Hawley to cap credit card interest rates deserves to be taken seriously, but requires far more detail than the legislative language provides.

As part of the changes, the Spanish bank is combining individual countries' retail and commercial banking businesses under a new global unit, which will be headed by Daniel Barriuso, and creating a new digital consumer bank area that will be led by Jose Luis de Mora.

Instead, the Canadian bank will try to ramp up its current strategy, which includes growth in commercial lending and technology upgrades, as well as streamline management. 

Staring Jan. 1, only amounts spent on fares and Delta credit cards co-branded with American Express will be used to calculate rewards.

Concerns about large unrealized losses on bond investments have receded since the spring banking crisis, but the paper losses have started growing again in recent months. The worries today are less about banks' survival — and more about how much their margins will get squeezed.

Republican Josh Hawley, the senior senator from Missouri, says he intends to offer legislation that would cap credit card rates at 18%. For a bill designed to go nowhere, it's a surprisingly good idea.

Amex is planning to debut a new luxury lounge at Newark Liberty International Airport, part of the credit-card giant's continued push into travel and entertainment services.

After taking incremental steps to bolster its wealth management business, the Rhode Island bank is preparing to roll out a broader strategy focused on high-net-worth clients.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

Capital One Financial opened its newest airport lounge to the public at the Washington, D.C., metropolitan area's Dulles International Airport.