Largest Consumer Bank Chase Hints Increased Cost To Consumers For Everyday Banking Services Marianne Lake, head of Chase Bank, a division of JPMorgan Chase & Co. (NYSE:JPM), has issued a warning to its 86 million customers: prepare for potential new charges on their bank accounts. Lake highlighted that proposed regulations aimed at capping overdrafts and […]
The unraveling of fintech upstart Synapse is rippling through a small corner of the banking world, leaving thousands of customers without access to their money and a mystery about millions of dollars that went missing. Four small US banks have some of the money. No one is sure where the rest went. The saga surrounding […]
(Bloomberg) — European Union governments made progress toward forging closer banking ties as they reached an initial agreement on rules that will make it easier to wind down smaller lenders in trouble. Most Read from Bloomberg The 27 member states will now negotiate with the European Parliament on the final shape of the legislation, according […]
You’ve probably heard that familiar “change password” advice a lot: If you bank online, change your password on a regular basis. Change it now, change it often; you can’t change it enough. But provided you have a strong password, that advice is actually outdated, even though the odds of having your bank account hacked are […]
NEW YORK (Reuters) – Bank of America’s investment banking fees are expected to rise 10% to 15% in the second quarter from a year earlier, CEO Brian Moynihan said on Thursday, after an almost two-year industry slump due to market volatility, rising interest rates and geopolitical turmoil. Trading revenue is also expected to grow at […]
WASHINGTON (AP) — The U.S. lifted some financial restrictions against Cuba on Tuesday, in a move designed to boost private businesses on the island. The measures will allow independent entrepreneurs to open and access U.S. bank accounts online to support their businesses. Other measures include steps to open up more internet-based services and expand private […]
If you live in the U.S., chances are you use apps like Venmo and Cash App to pay back your friends or split the bills with your roommates. Lydia is a French startup that also turned payments into a mobile consumer app and service. Now, after reaching 8 million users, the company finds itself in […]
You check your email and see an update about a new bank account in your name. Or perhaps you view your checking account statement and find unauthorized debit card transactions listed. Whatever the case, being the victim of a banking scam is a terrible feeling. Bank scams are common, and with increased use of technology […]
Spanish group Bankinter will soon be a new entrant to the Irish banking market. The group will offer services, including deposits, under its Spanish licence until it secures an Irish permit. Bankinter already offers mortgages in Ireland under the brand Avant Money. The bank will be digital rather than branch-based, and will use the Avant […]
After a two-year slump, investment banking looks like it’s entering the early stages of a recovery. Investment banks reported earnings growth of double-digit percentages in the first quarter, driven by strong initial public offering (IPO) markets and a pick-up in debt underwriting. Here are three stocks to buy today to capitalize on this recovery. 1. […]
(Reuters) -New York Community Bancorp on Friday named banking industry veteran Craig Gifford as its finance chief to succeed John Pinto, as it tries to shore up investor confidence after disclosing faults in its financial reporting earlier this year. The embattled lender did not disclose the details of Pinto’s departure in its statement, which also […]
China’s property crisis has impacted the country’s biggest banks, increasing non-performing loans. Beijing is urging banks to boost financing for “white list” property developers to help the sector. Despite the crisis, Chinese banks say they have sufficient buffers to manage risks. China’s property crisis has hit the books of its biggest lenders, which are reporting […]