Weekly Wrap: Big banks address Libra as challengers seek to lure customers

Welcome to the first episode of our new weekly wrap video series, for the week ending July 19, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How bank executives, including JPMorgan Chase and Citibank, are beginning to address Facebook’s planned digital currency Libra in their earnings calls […]

Capital One: Pressure from non-banks is hurting commercial lending

Capital One‘s commercial lending business is facing price pressure from a saturated market of lenders, including non-banks, that are pushing interest rates down.  “Increasing competition from non-banks continues to drive less favorable terms in the commercial lending marketplace,” CEO Richard Fairbank told investors on Thursday. Capital One isn’t alone in facing this pressure in the […]

Bankers prepare for GDPR-type regulations to take hold in the US

The GDPR bogeyman is now preoccupying bankers in the U.S. The EU’s General Data Protection Regulation (GDPR), which took effect in May of last year, gives customers the right to know what data institutions keep about them, the right to demand that institutions delete personal data and the right to be forgotten. So far, it’s […]

eBay accelerates payments push

eBay is pushing forward with efforts to move payments in-house instead of relying on PayPal. The company is taking a staged approach to its payments product launch with the goal to reach full rollout by 2020, a move that will let the company take control of the user experience, grow revenue and reduce overhead costs […]