Consumer banking

FILE - This Aug. 11, 2019 file photo shows an American Express card in New Orleans. American Express’ fourth-quarter profits dropped by 39%, the credit card giant said Friday, Oct. 23, 2020, as the pandemic’s deep impacts on travel, entertainment and dining dramatically impacted the company’s results. (AP Photo/Jenny Kane)
October 23, 2020 - 9:36 am
CHARLOTTE, N.C. (AP) — American Express' fourth-quarter profits dropped by 39%, the credit card giant said Friday, as the pandemic's deep impacts on travel, entertainment and dining dramatically impacted the company's results. The New York-based company earned $1.07 billion, or $1.30 a share, down...
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October 13, 2020 - 5:40 am
NEW YORK (AP) — Citigroup says profit fell 34% in the third quarter due to weakness in its consumer banking division. The New York-based bank said Tuesday that third-quarter net income fell to $3.23 billion from $4.91 billion in the year ago quarter. Per share earnings for the latest quarter were $...
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A woman walks past a personal finance loan office Thursday, Oct. 1, 2020, in Franklin, Tenn. U.S. consumers cut back on their borrowing in August, with credit card use dropping for a sixth straight month, reflecting caution in the midst of the pandemic-triggered recession. The Federal Reserve said Wednesday, Oct. 7, that total borrowing fell by $7.2 billion after a gain of $14.7 billion in July. (AP Photo/Mark Humphrey)
October 07, 2020 - 2:41 pm
WASHINGTON (AP) — U.S. consumers cut back on their borrowing in August, with credit card use dropping for a sixth straight month, reflecting caution in the midst of the pandemic-triggered recession. The Federal Reserve said Wednesday that total borrowing fell by $7.2 billion after a gain of $14.7...
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In this undated photo provided by Citigroup, head of Citi’s global consumer banking division Jane Fraser poses for a portrait. Citigroup announced Thursday, Sept. 10, 2020, that Fraser would succeed Michael Corbat as the bank’s next chief executive, making Fraser the first woman to ever lead a Wall Street bank. (Julian Restrepo/Citigroup via AP)
September 10, 2020 - 11:23 am
NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman to ever lead a Wall Street bank when she succeeds CEO Michael Corbat in February. The New York bank announced the succession Thursday. Fraser is currently head of Citi's global consumer banking division, a major part of the bank...
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FILE - This Monday, April 27, 2020, file photo shows a sale pending sign on a home in Mount Lebanon, Pa. The coronavirus pandemic helped shape the housing market by influencing everything from the direction of mortgage rates to the inventory of homes on the market to the types of homes in demand and the desired locations. (AP Photo/Gene J. Puskar, File)
August 21, 2020 - 10:34 am
SILVER SPRING, Md. (AP) — Spurred by ultra-low mortgage rates, home buyers rushed last month to snap up a limited supply of existing houses, causing the pace of purchases to jump by a record-high 24.7%. The July surge in sales reported Friday by the National Association of Realtors marked the...
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FILE - In this Jan. 2, 2019, file photo, women peer in the front door of Lord & Taylor's flagship Fifth Avenue store which closed for good in New York. New York landmark retailer Lord & Taylor has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic. (AP Photo/Kathy Willens, File)
August 03, 2020 - 5:45 am
NEW YORK (AP) — Lord & Taylor, America's oldest retailer, is seeking bankruptcy protection, as is the owner of Men’s Wearhouse and Jos. A. Bank, lengthening the list of major retail chains that have faltered in the pandemic. Household names, many longtime anchors in malls nationwide, were...
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FILE - In this Oct. 14, 2019, file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. The Federal Reserve said on Thursday, June 25, 2020, a worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause nation’s 34 largest banks to collectively lose roughly $700 billion. To bolster the banks ahead such a potentially damaging recession, the Fed ordered the banks to suspend stock buybacks and dividend payouts until Sept. 30. (AP Photo/Steven Senne)
July 16, 2020 - 5:05 am
NEW YORK (AP) — Bank of America's second quarter profits were sawed in half and the consumer banking giant set aside billions of dollars to cover potentially bad loans caused by the pandemic. Bank earnings this quarter have begun to paint a picture of American families and businesses struggling to...
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July 15, 2020 - 9:42 am
NEW YORK (AP) — Investment bank Goldman Sachs posted a massive 41% rise in revenues in the second quarter, the bank said Wednesday, helped by a blowout performance by the bank’s trading desks. The New York-based bank had second quarter revenues of $13.3 billion, which is up from $9.46 billion in...
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Chief Yeoman Warder Peter McGowran, right, speaks on a radio flanked by Yeoman Gaoler Jim Duncan as they stand next to the gates at the main entrance before opening to visitors at the Tower of London, in London, Friday, July 10, 2020. The Tower of London reopened to visitors Friday as the British government continues to relax its coronavirus restrictions. (AP Photo/Matt Dunham)
July 10, 2020 - 10:56 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the spread of the virus. ________________________ RETAIL: — Clothing company Express has reopened about...
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July 08, 2020 - 7:05 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. ________________________ TRAVEL: Choice Hotels is confident that its...
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