Banking
Top stories summarized by our editors
4/19/2019

Digital payment company Venmo reportedly is in talks with Synchrony Financial about a branded credit card. The companies are said to be discussing features that include rewards for card users.

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Synchrony Financial, Venmo, Venmo
4/19/2019

The name of the bank to be created by the BB&T-SunTrust merger is expected to be announced by the end of this quarter, BB&T chief executive Kelly King says. Weekly meetings are being held between the two banks' leadership teams as discussions continue on retaining jobs and merging the cultures.

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SunTrust, Kelly King, BB&T
4/19/2019

T-Mobile's free checking account has no overdraft, transfer or late-payment fees and will pay T-Mobile customers 4% interest on balances up to $3,000. The wireless carrier partnered with BankMobile, which handles compliance.

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USA Today
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T-Mobile, BankMobile
4/19/2019

A review of the Consumer Financial Protection Bureau's complaint database continues, and Director Kathy Kraninger has not ruled out making the database private. The CFPB also continues to review discriminatory-lending cases built on the concept of "disparate impact."

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Reuters
4/19/2019

Chicago; San Diego; Miami; Louisville, Ky.; and Syracuse, N.Y., will each receive $3 million as part of JPMorgan Chase's AdvancingCities initiative. The cities will use the money to create programs to increase economic opportunities.

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Fox Business
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JPMorgan Chase
4/19/2019

The first bank to open in Ohio since the Great Recession debuts Monday. Ohio State Bank offers personal and business accounts and is governed by a 12-member board.

4/19/2019

The Federal Reserve's benchmark interest rate of 2.25% to 2.5% is an "appropriate policy setting for this economy," says Robert Kaplan, president of the Federal Reserve Bank of Dallas. Kaplan expects economic growth to slow this year, citing replacement of workers by technology and failure to keep up with training for skilled labor.

4/18/2019

Bank of England Governor Mark Carney and Francois Villeroy de Galhau, governor of the Bank of France, have joined the Network for Greening the Financial System in signing an open letter that warns of the risks climate change poses to the global economy. The NGFS this week published its first comprehensive report on the matter.

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BBC
4/18/2019

The Federal Reserve's Beige Book report shows a moderate rise in economic growth in March and early April. The report also notes shortages of skilled workers in most of the Fed's 12 districts and generally modest wage rises.

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Reuters
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Federal Reserve
4/18/2019

Jennifer Piepszak will become chief financial officer at JPMorgan Chase on May 1, and current CFO Marianne Lake will take over as CEO of the bank's consumer lending business. The move is seen as a further sign that Lake is the front-runner to take over as CEO when Jamie Dimon retires.

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CNBC