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

Explore the Trendline➔

Top 5 stories from Banking Dive

Amid a swell of activity, financial institutions large and small are leaning into their aspirations. For PNC, it’s scale. For some fintechs, it’s a charter. For Millbury National Bank, it may simply be niceness.

By Banking Dive staff

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

U.S. Bank launches Spanish-language option on revamped app

50% of the bank's customers now use mobile banking, compared with 44% during the same period last year, per its second-quarter earnings report.

By Anna Hrushka • Aug. 30, 2019

6 questions with Trustar Bank CEO Shaza Andersen

Executive launched the Great Falls, Virginia-based community bank in July, after selling WashingtonFirst Bank to Sandy Spring Bank.

By Anna Hrushka • Aug. 29, 2019

Wells Fargo inks $6.5M settlement with Navajo Nation over 'predatory' tactics

The settlement is the latest attempt by Wells Fargo to make amends after a series of public missteps that have hurt the bank’s reputation and stock.

By Anna Hrushka • Aug. 27, 2019

More than half of credit-card users don't understand their benefits

Regional issuers such as BB&T and PNC Bank outpaced national brands such as Capital One and Chase in a J.D. Power credit-card customer satisfaction study released Thursday.

By Dan Ennis • Aug. 23, 2019

Advocates seek 'unified voice' from regulators on small-dollar loans

U.S. consumers borrow nearly $90 billion every year in loans between $300 and $5,000, the Office of the Comptroller of the Currency said. But few banks are moving into that market.

By Anna Hrushka • Aug. 23, 2019

Wells Fargo may want to consider changing name, image adviser says

Consumers gave the bank a 91% negative rating long after its fake-accounts scandal. Plummeting stocks, a lengthy CEO search and a "mea culpa" campaign aren't helping.

By Anna Hrushka • Aug. 22, 2019

Capital One buys robo-adviser United Income

The acquisition comes a year after Capital One took a 10% stake in the wealth management platform.

By Anna Hrushka • Aug. 19, 2019

Closed Wells Fargo accounts charge customers overdraft fees: NYT

One employee in the bank's debt-collection department raised concerns after taking in an estimated $100,000 in overdraft fees over eight months.

By Anna Hrushka • Aug. 16, 2019