Nathan Place

As Americans lose more money to scams every year, the nation's largest bank has made a major investment in anti-fraud efforts.

Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.

JPMorganChase's shareholders have occasionally floated proposals to make sure the bank's lobbying dollars match its public statements. At the company's annual meeting on Monday, support for one such measure was down significantly from a similar proposal in 2023.

Canada's largest bank beat Wall Street's expectations in the second quarter. But some analysts were puzzled by RBC's decision to shrink its provisions for credit losses at the same time as its executives were acknowledging "elevated" macroeconomic uncertainty.

Since Michael Rhodes became its CEO, Ally Financial has gotten bigger by thinking more narrowly. Instead of growing the company's web of businesses, the company has exited some sectors while doubling down on what Ally does best: auto lending.

The super-regional bank is increasingly building AI on its own. The point, CEO Bill Demchak said this week, is not just to foster innovation but to protect the bank from rising costs.

BofA is using an old-school method to battle the world's newest scams: in-person seminars, taught at brick-and-mortar branches.

At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.

New York State's attorney general has reached settlements with the two banks, which will pay a combined $90,000 in penalties in connection with alleged violations of rent stabilization laws.

In 2024, a Honduras-born man who was buying a motorcycle was turned down for a loan. Two years later, Truist Financial is facing a discrimination lawsuit — and the plaintiff's lawyer says many lenders are vulnerable to the same accusations.