Goldman Sachs continued its push into consumer markets by acquiring General Motors’ credit card business for $2.5 billion, edging out Barclays for the contract, according to The Wall Street Journal.
Goldman Sachs, Morgan Stanley and Citigroup are among 34 S&P 100 companies that will publicly disclose the makeup of their workforce by race, ethnicity and gender, New York City Comptroller Scott M. Stringer said Monday.
One, a startup founded by PayPal’s first CEO and a former Capital One executive, said on Tuesday that it debuted what it bills as the first combined digital banking service that includes saving, borrowing, spending and sharing.
PNC Financial Services Group will close 280 branches by the end of next year as customers increasingly rely on digital banking services, CEO William Demchak said at a conference Monday.
Capital One said it is cutting credit limits for some cardholders if a deadlock in U.S. Congress over extending unemployment benefits continues, despite the payment firm having built up billions of dollars in loss reserves.
Veteran financial executive John Collins has joined Navy Federal Credit Union as its chief financial officer following a 20-year career at Capital One, the credit union said Tuesday.
New York’s top law enforcement official asked a court to enforce subpoenas as part of an investigation into whether U.S. President Donald Trump and his businesses lied on financial statements to secure favorable loans, insurance and tax treatment.
Plaid has brought on board a general counsel who formerly worked at Capital One and at the Consumer Financial Protection Bureau, providing the U.S. fintech with more legal talent as it navigates an acquisition by Visa and a class-action lawsuit.
Capital One is looking to patent an artificial intelligence platform that would trawl the web for rumors and news about the cryptocurrency market to make market predictions and personalized trading recommendations.
Goldman Sachs and Barclays are among the bidders looking to partner with General Motors when its contract manufacturer’s credit card with Capital One expires, revealing increasing appetite for consumer debt, the Wall Street Journal reported.
The U.S. Federal Reserve rolled out new capital requirements for 34 of the country’s largest banks on Monday, imposing the highest requirements on Goldman Sachs and Morgan Stanley based on stress tests conducted earlier this year.
Capital One is facing an $80 million fine from the U.S. Office of the Comptroller of the Currency, and requirements to fix certain cloud-based cybersecurity issues, after faulty practices resulted in a 2019 data breach, the regulator said Thursday.
Capital One Financial Corp. will slash dividend payments to $0.10 per share in the third quarter from the initially planned $0.40 after a buildup in credit allowance pushed the retail bank to another loss-making period, officials said Tuesday.
Fintech MoneyLion said on Wednesday that it is partnering with Mastercard and MetaBank to roll out a new mobile-banking product called RoarMoney.
JPMorgan Chase suspended plans to open its offices in Columbus, Ohio, after the Midwestern state had its highest day for new coronavirus cases on July 3, bank spokesperson Carlene Lule told Fastinform Wednesday.
Bank of America will begin the process of bringing its 185,000 employees who have been working from home back into the office after Labor Day, Sept. 7, a spokesperson said Tuesday.
JPMorgan Chase said Sunday a “technical issue” caused some customers over the weekend to see incorrect balances for their checking accounts and that the lender has since fixed the glitch.
Komainu, a new custodian to vet and safeguard digital assets for financial institutions created by Nomura Holdings, CoinShares and Ledger, named four top executives on Wednesday, providing substantial traditional banking expertise to the venture as it prepares to begin doing business.
Fitch Ratings lowered its outlooks to negative for several major credit card companies on Wednesday, including American Express and Discover Financial Services, as lenders brace for significant loan losses due to the COVID-19 economic crisis.