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Shopping online at 2 a.m.? That’s a red flag for buy now, pay later lender Affirm
A young man holds a credit card and uses a laptop for online shopping. Diy13 | Istock | Getty Images Americans shopping online after midnight often make riskier transactions and are more likely to default on their loans, according to Affirm Chief Financial Officer Michael Linford. The fintech firm uses the hour a consumer attempts […]
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Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year
Pedestrians pass a JPMorgan Chase bank branch in New York. Michael Nagle | Bloomberg | Getty Images The three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways for customers to avoid the penalties. JPMorgan Chase, Wells Fargo and […]
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NYCB woes reignite fears about shaky banks as anniversary of March disaster nears
The New York Neighborhood Financial institution (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Photos Embattled lender New York Community Bank disclosed a litany of fiscal metrics in the previous 24 hrs in a bid to soothe skittish traders. But just one of the most […]
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A Goldman Sachs-backed electricity firm is making a play to reach more Americans’ homes
Omar Marques | Lightrocket | Getty Images Goldman Sachs abandoned an ill-fated push into consumer banking in late 2022, but an investment in a Texas energy retailer means its reach into American homes is about to grow. Rhythm Energy, a Houston-based electricity provider overseen and owned by a Goldman Sachs private equity fund, has won […]
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JPMorgan Chase shuffles top leaders as race to succeed Jamie Dimon drags on
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC JPMorgan Chase on Thursday said several executives considered frontrunners to one day take over for CEO Jamie Dimon had new or expanded roles. […]
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Klarna to debut $7.99 monthly plan as buy now, pay later firm seeks new revenue sources ahead of IPO
Swedish buy now, pay later firm Klarna unveils a $7.99 monthly subscription plan called Klarna Plus Courtesy: Klarna Swedish fintech firm Klarna is launching a monthly subscription plan in the U.S. to lock in its heaviest users ahead of an expected initial public offering this year, the company told CNBC. The product is set to […]
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Citigroup is cutting 10% of its workforce in CEO Jane Fraser’s corporate overhaul
CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC. Alex Wong | Getty Images Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results […]
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Citigroup posts $1.8 billion fourth-quarter loss after litany of charges
Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Citigroup reported fourth-quarter earnings before the opening bell Friday. Here’s what […]
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JPMorgan Chase profit falls after $2.9 billion fee from regional bank rescues
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images JPMorgan Chase said Friday that fourth quarter profit declined after paying a $2.9 billion […]
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Citigroup to close global distressed-debt business as part of CEO Jane Fraser's overhaul
A trader works underneath a monitor displaying Citigroup Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on June 3, 2016. Michael Nagle | Bloomberg | Getty Images Citigroup is shuttering another Wall Street business as CEO Jane Fraser pushes ahead with her overhaul of the bank, CNBC […]
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