Affirm launches mobile app for payment installments

The payment platform is targeting credit card-averse millennials and Gen Z shoppers ahead of the holiday season.

By Tatiana Walk-Morris • Oct. 18, 2019

Chime outage keeps customers from accessing cash

Galileo, the platform that powers Chime, told Banking Dive it is working to restore Chime's mobile app, "which is currently unavailable or slow to respond." Chime's card services have since been restored.

By Anna Hrushka • Oct. 17, 2019

Explore the Trendline➔

Top 5 stories from Banking Dive

Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.

By Banking Dive staff

Mortgage banking boosts U.S. Bank's Q3 profits

Strategic investments in loan officers and its digital platform have contributed to the growth of U.S. Bancorp's mortgage arm, the company's CFO said.

By Anna Hrushka • Oct. 17, 2019

PNC’s revenue is growing, but profits are flat amid expansion

The bank has expanded into 10 new cities, rolled out a digital retail bank last year and opened retail locations, or "solution centers," in Kansas City, Missouri, and the Dallas area.

By Anna Hrushka • Oct. 17, 2019

Bank of America prioritized internal cloud. Now it's evaluating third-party providers

"We don't need to own the hardware, we just need to find out who can provide the right way," said CEO Brian Moynihan.

By Naomi Eide • Oct. 17, 2019

11% boost in North America card revenue buoys Citi's earnings

The card segment's growth stands as somewhat of a relief after the bank lowered its expectations on net interest income. Expenses also are up slightly as the company continues to cut jobs.

By Dan Ennis • Oct. 16, 2019

$2.1B charge dents Bank of America Q3 profits

The bank said a one-time impairment charge related to the end of its tie-up with payment-processing company First Data caused a drop in net income.

By Anna Hrushka • Oct. 16, 2019

Wells Fargo earnings suffer on $1.6B legal charge

The nation's fourth-largest bank is in transition, with a new CEO stepping in Oct. 21.

By Dan Ennis • Oct. 15, 2019

JPMorgan Chase jumps to record revenue on consumer banking gains

Profit for the bank’s consumer unit, which includes home loans, auto loans and consumer credit cards, rose 5% to $4.27 billion.

By Anna Hrushka • Oct. 15, 2019

Most Americans still have reservations on going cashless, survey finds

Emergencies were the No. 1 reason respondents said they carry cash (60%), followed by small purchases (50%), tips (42%) and to manage their finances (20%), the J.D. Power report found.

By Anna Hrushka • Oct. 14, 2019

Digital bank eyes US immigrant market with unlimited money transfers

Remittance fees for Majority's customers are covered in its $5 monthly membership fee.

By Anna Hrushka • Oct. 11, 2019

HSBC to cut 10K jobs: report

The staff reduction comes amid conflicting reports regarding the future of the bank's French retail arm, and after HSBC announced in August that it was shedding 4,700 positions.

By Anna Hrushka • Oct. 7, 2019

Wells Fargo CEO pick marks crucial step to restoring confidence

Charlie Scharf's stint at BNY Mellon shows he has the gravitas and experience to turn around a bank that has hemorrhaged consumer trust, an analyst tells Banking Dive.

By Anna Hrushka • Oct. 3, 2019

Community banks won't survive without tech innovation, FDIC chair says

The agency's Tech Lab aims to collaborate with smaller financial institutions on how to deploy technology to better serve customers.

By Anna Hrushka • Oct. 2, 2019

Wells Fargo names BNY Mellon’s Charlie Scharf CEO

The appointment ends a six-month search that began after former CEO Tim Sloan resigned from the scandal-plagued bank in March.

By Anna Hrushka • Sept. 27, 2019

House OKs landmark cannabis banking bill

If the Senate also passes the SAFE Banking Act, it would be a major win for the cannabis industry and banks that want a piece of a market that could grow to $41 billion by 2025, according to data firm Nielsen.

By Anna Hrushka • Sept. 26, 2019

Kabbage founders aim to connect small businesses, gig influencers

Drum has the potential to serve as a pipeline for startups to which Kabbage could lend.

By Dan Ennis • Sept. 24, 2019

Capital One, Walmart rolling out 2 cards offering 5% back

The cash-back offers — some time-limited — improve upon the retailer's previous deals through Synchrony, and help Walmart keep pace with competitors Amazon and Target.

By Dan Ennis • Sept. 19, 2019

CFPB investigating possible fake accounts at Bank of America

The CFPB's civil investigation stems from the fallout of the 2016 Wells Fargo account scandal, where employees opened more than 3.5 million unauthorized accounts to meet sales goals.

By Anna Hrushka • Sept. 18, 2019

Wells Fargo tests blockchain waters with internal settlement service

Wells Fargo's renewed interest in blockchain comes at a time when banks are still gauging the technology's benefits.

By Anna Hrushka • Sept. 17, 2019

HSBC seeks buyer for French retail arm, contradicting earlier report

The bank sent an overview of the business to potential buyers, including Credit Agricole, BNP Paribas, according to Bloomberg. A union representative told Reuters in September that selling the unit was not on the table.

By Anna Hrushka • Updated Jan. 13, 2020

California lawmaker pulls cannabis banking bill ahead of vote

The state is expected to post $3.1 billion in licensed cannabis sales this year. But as long as pot remains a Schedule 1 drug under federal law, many banks are reluctant to accept those deposits.

By Anna Hrushka • Sept. 11, 2019

JPMorgan Chase's WePay launches same-day deposits

The free service gives Chase an edge on fintech competitors such as Stripe and Square, which both charge fees for faster processing.

By Anna Hrushka • Sept. 10, 2019

BB&T, SunTrust branch sales could mark opportunity as merger nears

The banks have said the merger would result in 740 branches located within two miles of one another, a prospect that has drawn concern from lawmakers.

By Anna Hrushka • Sept. 6, 2019

Wells Fargo would benefit from a female CEO, headhunter says

News of a woman breaking the industry's glass ceiling may help solve an image problem for a bank reeling from numerous scandals.

By Anna Hrushka • Sept. 6, 2019