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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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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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Credit card start-up Upgrade jumps 83% in valuation in just four months to $6.28 billion

Upgrade CEO Renaud Laplanche speaks at a conference in Brooklyn, New York, in 2018.Alex Flynn | Bloomberg via Getty ImagesUpgrade, the fintech start-up that turns credit card balances into installment loans, has closed a fundraising round that values the company at $6.28 billion, CNBC has learned.The company raised $280

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McKinsey partner is charged with insider trading tied to Goldman Sachs’ acquisition of GreenSky

Puneet DikshitElizabeth WilliamsA McKinsey partner was arrested Wednesday after being criminally charged with insider trading ahead of Goldman Sachs' recent $2.2 billion acquisition of fintech lender GreenSky.A complaint unsealed Wednesday in federal court alleged that Puneet Dikshit, 40, exploited information he gained about his client Goldman Sachs' pending takeover

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Wells Fargo warns investors that the bank is likely to face more regulatory setbacks

Wells Fargo CEO Charles Scharf listens during the Milken Institute Global Conference in Beverly Hills, Calif., on April 30, 2019.Kyle Grillot | Bloomberg | Getty ImagesWells Fargo isn't out of the woods yet when it comes to its regulatory mess.That's the message the bank sent in its most recent

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Goldman Sachs is giving hedge fund clients crypto research from data firm The Block

Rafael Henrique | SOPA Images | LightRocket | Getty ImagesGoldman Sachs has begun giving its institutional trading clients research reports from crypto news and data firm The Block.Hedge funds and other clients began receiving the reports on Thursday via the investment bank's Marquee digital platform, according to an email

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Greenlight, the fintech app for kids, wants to teach parents how to invest

Greenlight Financial, the start-up that helped pioneer the fintech category of debit cards and budgeting apps for kids, is now targeting parents.The start-up is releasing an investing platform that aims to teach parents how to research stocks and ETFs, CNBC has learned. The service comes at no additional cost

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Corporate card start-up Ramp targets Bill.com with free payments software

Eric Glyman and Karim Atiyeh, cofounders of corporate card startup RampCorporate charge card start-up Ramp is going after publicly-traded competitor Bill.com with a free invoice management and payments platform, CNBC has learned.The start-up has grown rapidly this year by offering small and medium-sized businesses a cash back card paired

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Mastercard says any bank or merchant on its vast network can soon offer crypto services

Mastercard credit cardsRoberto Machado Noa/ LightRocket via Getty ImagesThe crypto economy is about to expand.Mastercard is preparing to announce that any of the thousands of banks and millions of merchants on its payments network can soon integrate crypto into their products, CNBC has learned.That includes bitcoin wallets, credit and

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Wells Fargo has a new virtual assistant in the works and it’s named Fargo

A Wells Fargo logo is seen at the SIBOS banking and financial conference in TorontoChris Helgren | ReutersWells Fargo is developing a virtual assistant to help it convert more retail banking customers into digital users, CNBC has learned.The assistant, named Fargo, will be able to execute tasks including paying

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