Bank of America points to economic recovery, cuts loan loss reserve by 73%
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Fintech News Stories
Chase aims to lock in clients early with kids account
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JPMorgan Chase launched Chase First Banking, a fee-free account to allow Chase customers to offer their children bank accounts.
Read MoreGreenwood raises $3M in seed funding for community-focused banking
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Digital banking platform Greenwood seeks to serve communities traditionally ignored by the financial sector, particularly Black and Latinx communities.
Read MoreWells Fargo trims headcount by 700 as pandemic affects bottom line
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Wells Fargo announced that it is cutting more than 700 jobs in commercial banking.
Read MoreBusiness banking startup Azlo moves into subscriptions
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BBVA-backed digital bank Azlo launched a subscription-based service called Azlo Pro, which includes invoicing, and automated budgeting for payroll and taxes.
Read MoreGoldman shuffles leadership at consumer banking unit
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Harit Talwar, who has been Goldman Sachs’ global head of consumer business and the public face of its Marcus unit since 2015, is leaving his position, according to a Bloomberg report.
Read MoreWells Fargo inks data-sharing agreement with Envestnet Yodlee
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Wells Fargo has signed an agreement to enable API-based secure data sharing with aggregator Envestnet Yodlee, allowing customers to securely share data with 1,400 third-party financial applications
Read MoreCiti pledges $1B to close racial wealth gap
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Citibank and the Citi Foundation committed $1B in funding to enhance access to financial services for communities of color.
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Jane Fraser to become CEO of Citi next year
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Citibank has named Jane Fraser to become CEO of the megabank. She will assume the role once current CEO Mike Corbat retires in February.
Read MoreBuoyed by deposit growth, Goldman considers AI assistant for online bank Marcus
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Goldman Sachs’ digital bank Marcus is on the cusp of rolling out new offerings, including a checking account and possibly an AI assistant, per a report from Business Insider.
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JPMorgan Chase cuts the words ‘master,’ ‘slave,’ and ‘blacklist’ from internal code
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America’s reckoning on race relations is now impacting bank programming language. JPMorgan Chase is eliminating the terms ‘master,’ ‘slave,’ and ‘blacklist,’ from its technology policies, standards and control procedures, as well its programming code.
Read MoreJPMorgan Chase spoke with USPS about banking services at post offices
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Amid recent scrutiny of changes to USPS operations, The Capitol Forum reports JPMorgan Chase (JPMC) spoke with the postal provider about offering banking services at post offices.
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