Tuesday, December 7, 2021
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Capital One says it is ditching all consumer overdraft fees, giving up $150 million in annual revenue

Capital One says it is eliminating all overdraft fees for retail banking customers.It's the largest U.S. bank yet to end the industry practice of charging customers a hefty fee, typically $25 to $35 in each instance, for allowing transactions that exceed a customer's balance, according to the McLean, Virginia-based

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Financial watchdog cracks down on bank overdraft fees

Rohit Chopra, director of the Consumer Financial Protection Bureau.Alex Edelman/Bloomberg via Getty ImagesThe Consumer Financial Protection Bureau is cracking down on banks charging fees for customers who overdraw their checking accounts, the bureau announced Wednesday.The financial watchdog is planning a "range of regulatory interventions" targeting firms that rely heavily

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HSBC takes on fintechs with UK investing feature aimed at younger clients

The HSBC logo displayed on a smartphone.Pavlo Gonchar | SOPA Images | LightRocket | Getty ImagesLONDON — HSBC is going head-to-head with fintech challengers in the wealth management space, launching a new investing feature aimed at a younger clientele in the U.K.The British bank said Wednesday it was rolling

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Goldman Sachs unveils Amazon-backed cloud service for Wall Street trading firms

David Solomon, chief executive officer of Goldman Sachs & Co., listens during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019.Kyle Grillot | Bloomberg | Getty ImagesGoldman Sachs is getting into the cloud computing business.The bank is opening up access to its trove

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A fintech helping banks enter the cloud hits $1 billion valuation in JPMorgan-backed investment

JPMorgan Chase & Co. signage is illuminated at night at a bank branch in Chicago, Illinois.Christopher Dilts | Bloomberg | Getty ImagesLONDON — British fintech start-up Thought Machine has raised $200 million in a fresh round of funding that lifts its valuation above the coveted $1 billion mark.The cash

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