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Diversified Financials Consumer Finance

  • Dan Schulman

    A new Gmail feature challenges Venmo's dominance in mobile.

  • SAO PAULO, March 14- Interest rates for rolling over credit card debt in Brazil may fall by up to 50 percent under new rules, an industry group head said on Tuesday, as banks respond to pressure from policymakers to ease the burden on domestic borrowers. President Michel Temer unveiled a plan in December to slash interest rates on credit card debt to alleviate...

  • President Donald Trump holds a National Economic Council listening session with the CEOs of small and community banks, in the Roosevelt Room at the White House on March 9, 2017 in Washington, D.C.

    President Donald Trump promised in a meeting with community bankers to strip away some Dodd-Frank financial regulations.

  • BEIJING/ HONG KONG, March 10- After a spending spree stretching from hotels to electronics distribution in 2016, Chinese conglomerate HNA Group says it is now investing in financial services, betting on asset managers and consumer finance for growth at home and overseas. The moves reflect a broader push by China into financial services globally as Beijing...

  • WASHINGTON, March 9- President Donald Trump promised in a meeting with community bankers on Thursday to strip away some Dodd-Frank financial regulations and ensure they can continue giving small businesses access to capital. Trump, joined by National Economic Council Director Gary Cohn and Treasury Secretary Steve Mnuchin, said community banks play a "...

  • WASHINGTON, March 9- President Donald Trump promised in a meeting with community bankers on Thursday to strip away some Dodd-Frank financial regulations and ensure they can continue giving small businesses access to capital. Trump, joined by National Economic Council Director Gary Cohn and Treasury Secretary Steve Mnuchin, said community banks play a "...

  • WASHINGTON, March 9- President Donald Trump promised in a meeting with community bankers on Thursday to strip away some Dodd-Frank financial regulations and ensure they can continue giving small businesses access to capital. Trump, joined by National Economic Council Director Gary Cohn and Treasury Secretary Steve Mnuchin, said community banks play a "...

  • SAO PAULO, March 8- Itaú Unibanco Holding SA will cut the interest rate it charges on rollover credit card loans as Brazil's No. 1 lender seeks to comply with new rules to reduce the cost of borrowing for cash-strapped consumers and companies in Latin America's largest economy. With the new rules, President Michel Temer's government wants banks to speed up...

  • Wells Fargo had previously estimated that up to 2.1 million customers may have had checking and credit-card accounts opened in their names without their permission over a period of several years. An ongoing analysis of customer data may also be turning up more affected customers, according to Wells' annual 10- K filing with the U.S. Securities and Exchange...

  • In documents posted to its website on Tuesday as part of its annual investor day, JPMorgan predicted its costs will rise 3.4 percent to $58 billion, from $56.1 billion this year. At the day-long confab, held at JPMorgan's headquarters in New York, top executives offer their visions for the bank's four major business lines and mingle with investors, analysts and...

  • Feb 28- JPMorgan Chase& Co, the biggest U.S. bank by assets, said it expected 2017 expenses to rise about 3.4 percent as it spends more on technology and in signing up new credit card accounts. Total adjusted expenses for 2017 are expected to be about $58 billion, up from $56.1 billion in 2016, according to slides posted on the company's website as part of the bank's...

  • Feb 28- JPMorgan Chase& Co said it expected 2017 expenses to rise about 3.4 percent as the lender spends more on technology and signing up new credit card accounts. Total adjusted expenses for 2017 are expected to be about $58 billion, up from $56.1 billion in 2016, according to slides posted on the company's website. Some investors expecting banks profits to...

  • LONDON, Feb 24- British banks approved the highest number of mortgages in a year last month and credit card lending partly revived after a lull in December, industry figures showed on Friday, contrasting with earlier signs of a loss of economic momentum. The British Bankers' Association said its members gave the green light to 44,657 mortgages in January, up from...

  • Singapore's United Overseas Bank (UOB) reported on Friday its earnings for the fourth quarter slipped 6.2 percent on-year to S$739 million.

  • NEW YORK, Feb 16- More Americans fell behind on their car loan payments in the fourth quarter, bringing auto delinquencies to their highest since the height of the financial crisis, Federal Reserve Bank of New York data released on Thursday showed. Car loans delinquent by 30 days or more grew to $23.27 billion, the most since $23.46 billion in the third quarter of...

  • WASHINGTON, Feb 16- A U.S. appeals court said on Thursday it will reconsider an October ruling that the Consumer Financial Protection Bureau's structure is unconstitutional, virtually guaranteeing the battle over an agency borne of the financial crisis will reach the Supreme Court. A full panel of 10 judges on the U.S. Court of Appeals for the District of...

  • Feb 16- The U.S. Consumer Financial Protection Bureau said on Thursday it was exploring the use of alternative data sources such as mobile phone and rent payment bills to help extend affordable loans to consumers lacking credit history. The agency estimates that 26 million Americans have no credit history with a nationwide consumer reporting authority and...

  • Temasek may be betting China’s consumers will eschew retail therapy in favor of hitting the road, cutting its Alibaba stake and buying Ctrip shares.

  • On Tuesday, two Texas Republicans, Senator Ted Cruz and Representative John Ratcliffe, introduced a one-page bill to kill the Consumer Financial Protection Bureau entirely. Their move comes a few days after Representative Jed Hensarling, the chairman of the House Financial Services Committee, outlined a plan to limit the independent agency's power and to...

  • WASHINGTON, Feb 9- The Republican chairman of a key House of Representatives committee has laid out his plan to roll back Wall Street rules and consumer protections conceived after the 2008 financial crisis, a step that will largely define the financial deregulation debate in the Trump era. But it would require 60 votes in the Senate, where Republicans hold 52...