Dec 6- Blackstone Group LP Chairman and CEO Steve Schwarzman said on Tuesday he expected to see a "very substantial reversal of regulations of all types," for the financial sector, following Donald Trump's U.S. presidential election victory. Trump has pledged to dismantle the 2010 financial overhaul known as Dodd-Frank, and Republicans in Congress have already...
Wells, in a September settlement with the U.S. Consumer Financial Protection Bureau and other regulators, agreed to pay $185 million in penalties and $5 million to customers for opening up to 2 million deposit and credit-card accounts in their names without their permission. The Justice for Victims of Fraud Act of 2016, introduced by Senate Banking Committee...
CANNES, France, Dec 1- British shoppers will soon be able to decide to spread the cost of a purchase over a series of monthly instalments at the point of making a payment with their credit card, in a new partnership between Mastercard Inc card machine maker VeriFone Systems Inc.. The "Mastercard Intalments" app- the first of its kind in Britain- will launch on VeriFone...
Hey, big spender! If you checked off your shopping list on the web, you may have skipped this levy.
Wells Fargo announced new account openings fell by 44% in October and new credit card applications had plummeted by 50%, NBCNews reports.
In the wake of the Wells Fargo account scandal, Tim Maurer, director of personal finance at Buckingham and The BAM Alliance, discusses consumer alternatives to the big banks.
Australia's big four banks have been in the headlines for all the wrong reasons in the past year.
Fintech helps to make banking transactions and asset management more efficient and accessible, says Nexchange Chief Strategy Officer Andrew Economos.
The Little Snowball Co-founder Aloysius Lee tells CNBC how he started as a young investor and why youngsters need to learn investing and financial concepts.
Wells Fargo CFO John Shrewsberry says thousands of staffers fired after opening unauthorized customer accounts represented under-performing employees.
Sebastian Siemiatkowski, CEO of Klarna, explains his company's attempt to revolutionize credit card purchases for online consumers.
Participants in a nationwide movement to deploy African-American spending power in a more targeted way are depositing cash in black-owned banks.
The banking industry has piled on about $18 billion of card loans and other types of revolving credit within just three months, the FT reports.
Oliver Hughes, CEO of Tinkoff Bank, discusses banking in Russia and how his company has managed to turn a profit as consumer credit has contracted.
The largest banks are reportedly increasing the amount of overdraft fees they collect from their customers.
Another fintech start-up has run in to trouble. Online lender Vouch Financial is shutting down, reports said.
Regulators are proposing a significant clampdown on payday lenders and other providers of high-interest loans.
The online lender tells P2P lenders its position is strong, but some could lose on loans.
The bank is discontinuing its popular coin-counting arcades after complaints about their accuracy.
Fees to companies to originate loans vary widely and have drawn regulators' attention.