Today: July 06, 2024
Today: July 06, 2024

Latest From KEN SWEET

Arts|Business

Documenting the history of American Express as an in-house historian

Ira Galtman is part of a small community of corporate archivists

Documenting the history of American Express as an in-house historian
Lifestyle|News|Opinion

After 32 years as a progressive voice for LGBTQ Jews, Rabbi Sharon Kleinbaum heads into retirement

For more than three decades, Rabbi Sharon Kleinbaum has led the nation’s largest LGBTQ+ synagogue through the myriad ups and downs of the modern gay rights movement

After 32 years as a progressive voice for LGBTQ Jews, Rabbi Sharon Kleinbaum heads into retirement

Delta Air Lines will restrict access to its Sky Club airport lounges as it faces overcrowding

Delta Air Lines passengers who have long enjoyed access to free meals, alcohol and a quiet place to relax before their flight are in for some major cutbacks in coming years

Business|News|Political

DOJ says First National Bank discriminated against Black, Latino borrowers in North Carolina

The Justice Department says First National Bank discriminated against Black and Latino homebuyers in North Carolina for a period of at least four years, the latest in a long list of banks who have been caught redlining

Economy|News|Political

Federal judge temporarily halts Biden plan to lower credit card late fees to $8

A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week

Business|Economy|Technology

Abrupt shutdown of financial middleman Synapse has frozen thousands of Americans' deposits

The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company Synapse, which acts as a middleman between financial technology companies and banks

Business|Economy|Technology

Apple kills off its buy now, pay later service barely a year after launch

Apple is discontinuing its buy now, pay later service known as Apple Pay Later barely a year after its initial launch in the U.S., and will rely on companies who already dominate the industry like Affirm and Klarna

Apple kills off its buy now, pay later service barely a year after launch
Business

Bank of America's 1Q profits fall 18% on higher expenses, charge-offs

Bank of America said its first-quarter profits fell 18%, as the bank dealt with higher expenses due to the impact of higher interest rates

Bank of America's 1Q profits fall 18% on higher expenses, charge-offs
Business

JPMorgan reports 6% rise in 1Q profits as bank earnings season begins. Wells Fargo profit falls

JPMorgan Chase reported a modest 6% rise in first quarter profits on Friday, as the major banks start reporting their quarter results for the first quarter

JPMorgan reports 6% rise in 1Q profits as bank earnings season begins. Wells Fargo profit falls
Business

Regulator eases restrictions on Wells Fargo, saying bank has fixed itself after sales scandal

The Biden Administration is easing its restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals

Regulator eases restrictions on Wells Fargo, saying bank has fixed itself after sales scandal
Business

AmEx tries to win over grumpy Delta customers with revamped SkyMiles credit cards

American Express is rolling out several updates to its Delta SkyMiles credit cards that will give additional benefits to users

AmEx tries to win over grumpy Delta customers with revamped SkyMiles credit cards
Business

Visa extends its profit growth though 4Q as digital payments become more commonplace worldwide

Payments processing giant Visa Inc. has posted an 18% rise in its fiscal fourth-quarter profits

Visa extends its profit growth though 4Q as digital payments become more commonplace worldwide
Business

Bank of America profits jump 10% but warns of slowing spending by Americans

Bank of America posted a 10% rise in third quarter profits, helped by higher interest rates that allowed the bank to charge more for loans while keeping the bank’s expenses under control

Bank of America profits jump 10% but warns of slowing spending by Americans
Business|Economy

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating

After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating
Business|Economy

Goldman Sachs 4Q profits jump 51%, but full year reflects difficult period for the bank

Goldman Sachs’ profits jumped 51% from a year earlier, the investment bank said Tuesday, helped by the strong returns in the overall market in the last three months of the year

Goldman Sachs 4Q profits jump 51%, but full year reflects difficult period for the bank
Business|Economy

Banks upbeat on US consumer despite bank profit declines, inflation and rising debt levels

Three of the nation’s biggest banks say their profits fell last quarter

Banks upbeat on US consumer despite bank profit declines, inflation and rising debt levels
Business|Economy

Goldman Sachs 3Q profits fall 33% as trading, investment banking remains stagnant

Goldman Sachs saw its third quarter earnings fall 33%, with the investment bank seeing muted market conditions that allowed fewer deals and market making opportunities for the firm

Goldman Sachs 3Q profits fall 33% as trading, investment banking remains stagnant
Business|Economy|Political

Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor

President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Gruenberg as head of the Federal Deposit Insurance Corporation

Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor
Business|Economy|Political

The White House says FDIC chairman to step down following report on agency's toxic workplace culture

The chairman of the Federal Deposit Insurance Corporation will step down from his post once a successor is appointed

The White House says FDIC chairman to step down following report on agency's toxic workplace culture
Economy|Political

Vindicated by Supreme Court, CFPB director says bureau will add staff, consider new rules on banks

Since its creation roughly 14 years ago, the Consumer Financial Protection Bureau has faced lawsuits, political and legal challenges to the idea of whether the Federal Government’s aggressive consumer financial watchdog agency should be allowed exist at all

Vindicated by Supreme Court, CFPB director says bureau will add staff, consider new rules on banks
Business|News

Citigroup discriminated against Armenian Americans, federal regulator says; bank fined $25.9 million

A federal regulator says Citigroup intentionally discriminated against Armenian Americans when they applied for credit cards

Citigroup discriminated against Armenian Americans, federal regulator says; bank fined $25.9 million
Business|Economy|Technology

Online marketplace eBay to drop American Express, citing fees, and says customers have other options

Online marketplace behemoth eBay said it plans to no longer accept American Express, citing what the company says are “unacceptably high fees” and that customers have other payment options to shop online

Online marketplace eBay to drop American Express, citing fees, and says customers have other options
Business|Technology

Using AI, Mastercard expects to find compromised cards quicker, before they get used by criminals

Mastercard says it expects to be able to discover that your credit or debit card number has been compromised well before it ends up in the hands of a cybercriminal

Using AI, Mastercard expects to find compromised cards quicker, before they get used by criminals
Business|Economy|Technology

Changes from Visa mean Americans will carry fewer physical credit, debit cards in their wallets

Visa has announced major changes to how its credit and debit cards will operate in the U.S. Features in the works will lead to Americans to carry fewer physical cards in their wallets and make the 16-digit credit or debit card number printed on every physical card increasingly irrelevant

Changes from Visa mean Americans will carry fewer physical credit, debit cards in their wallets
Business|News

Ryan Salame, part of the 'inner circle' at collapsed crypto exchange FTX, sentenced to prison

A federal judge has sentenced former FTX executive Ryan Salame to more than seven years in prison

Ryan Salame, part of the 'inner circle' at collapsed crypto exchange FTX, sentenced to prison

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