Report finds problems with student loan servicing, oversight

NEW YORK (AP) — The nine companies and organizations tasked with servicing the accounts of the nation's 30 million student loan borrowers repeatedly failed to do their jobs properly over a period of y...

Data center smoke causes outage for Wells Fargo customers

NEW YORK (AP) — Smoke at one of Wells Fargo's data centers left some of the bank's customers without access to online or mobile banking as well as other services Thursday. Wells Farg...

Morgan Stanley's 4Q results miss forecasts, hurt by trading

NEW YORK (AP) — Investment bank Morgan Stanley on Thursday reported fourth-quarter results that came up short of analysts' expectations, hurt by difficulties in trading that impacted other Wall Street...

Hampered by scandals, Wells Fargo's profits stagnate

NEW YORK (AP) — Wells Fargo, the consumer banking giant, said its fourth-quarter profits fell slightly on Tuesday as the bank remains restrained by federal regulators, who put a tight leash on it afte...

JPMorgan misses estimates, caused by trading troubles

NEW YORK (AP) — JPMorgan Chase & Co.'s fourth quarter profits badly missed analysts' expectations on Tuesday, caused by difficulties in the bank's bond-trading business. The nati...

Consumer financial watchdog abandons name change plan

NEW YORK (AP) — The Consumer Financial Protection Bureau is abandoning a controversial renaming plan, in one of the first big decisions by its new permanent director. The CFPB is dro...

Senate approves Trump's nominee for watchdog agency

NEW YORK (AP) — The Senate has approved President Donald Trump's nominee to run the Consumer Financial Protection Bureau, after a nearly six-month, highly partisan battle over the fate of the federal ...

Former govt. student loan official opens new organization

NEW YORK (AP) — A former top government official who oversaw the $1.5 trillion student loan market is starting a new organization that he hopes will do a better job protecting student borrowers than h...

Banks could face tighter scrutiny under Rep. Maxine Waters

NEW YORK (AP) — Come January, the banking industry is going to be on Rep. Maxine Waters' time. With Democrats taking control of the House of Representatives, the California Democrat ...

Advance pay service may reduce use of payday loans

NEW YORK (AP) — Americans take out roughly $50 billion in payday loans a year, each racking up hundreds of dollars in fees and interest. But a small and growing service that allows its users to take a...

American Express profits jump 22 percent, beating forecasts

NEW YORK (AP) — American Express said its third quarter profits jumped by 22 percent from a year earlier, as the credit card giant benefited from a lower tax rate and increased spending on the company...

CFPB investigates controversial writings of Trump appointee

NEW YORK (AP) — The nation's financial watchdog has opened a formal investigation into writings and comments by Eric Blankenstein, a Republican appointee overseeing the agency's anti-discrimination ef...

Goldman Sachs, Morgan Stanley both report strong 3Q profits

NEW YORK (AP) — The leading U.S. investment banks — Goldman Sachs and Morgan Stanley — each reported third quarter profits that beat analysts' expectations Tuesday, helped by strong performance in the...

On the Money: AmEx Gold Card gets bigger perks, higher fee

NEW YORK (AP) — The middle child of American Express' suite of charge cards, the Gold Card, is getting a major upgrade this fall, but its bigger perks are going to come with a higher fee. ...

Teachers union sues student loan servicer Navient

NEW YORK (AP) — The American Federation of Teachers filed a lawsuit Wednesday against Navient, one of the country's largest student loan servicing companies, alleging that it failed to guide eligible ...