Jenny Surane, Author at Providence Business News

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Citi warns trading revenue to decline, BofA is ‘doing OK’

Financial Services 09/09/2019

NEW YORK – Citigroup Inc. trading revenue is set to drop this quarter amid volatility that gripped markets for most of August, while a...

BANK OF AMERICA CEO Brian Moynihan said that recession risks are low in the U.S. as consumer spending remains strong but noted that fear of a recession could impact the economy. / BLOOMBERG NEWS/SIMON DAWSON

BofA’s CEO says the biggest recession risk is the fear of...

Economic Activity 08/16/2019

NEW YORK – Bank of America Corp. CEO Brian Moynihan said this week’s bond-market turmoil has been driven by issues outside the United States,...

BANK OF AMERICA will end a payments joint venture with First Data Corp. next June. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

BofA to end payments joint venture with First Data next June

Financial Services 07/30/2019

NEW YORK – Bank of America Corp. said it will end a payments joint venture with First Data Corp. next June when a contract...

CAPITAL ONE announced Monday that 100 million people in the U.S. had been impacted by a data breach, and another 6 million in Canada. / BLOOMBERG NEWS FILE PHOTO/SARAH BLESENER

Tipster’s email led to arrest in massive Capital One data breach

Financial Services 07/30/2019

NEW YORK – Capital One Financial Corp. set up an email address for tipsters - including "white hat" hackers - to alert the company...

VISA AND MASTERCARD have agreed to pay as much as $6.2 billion to end a long-running price-fixing class-action case brought by merchants over card fees. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Visa, Mastercard reach $6.2B settlement on swipe fees

Economic Activity 09/18/2018

NEW YORK - Visa Inc. and Mastercard Inc. agreed to pay as much as $6.2 billion to end a long-running price-fixing case brought by merchants...

THE SUPREME COURT may have ruled that states can allow betting on individual sporting events, but many gamblers who will want to place those wagers using a credit card face a major hurdle: a large share of U.S. credit card companies don't allow it. / BLOOMBERG/ JUSTIN CHIN

Sports gambling’s next hurdle is credit cards after court ruling

Government 05/18/2018

NEW YORK - For states ready to legalize gambling, banks hold many of the cards. The Supreme Court ruled this week that states can allow...

AMAZON.COM INC., already a lender to small businesses, is now in early discussions to create a product for retail customers similar to checking accounts. / BLOOMBERG FILE PHOTO/JIM YOUNG

Amazon checking-account threat puts regional banks on defensive

Financial Services 04/26/2018

NEW YORK - America’s regional banks are preparing to defend their turf. Amazon.com Inc., already a lender to small businesses, is now in early discussions to...

Bank of America to add 300 advisers in expansion of Merrill...

Financial Services 03/30/2018

NEW YORK - Bank of America Corp. plans to hire 300 financial advisers by year-end to help expand its Merrill Edge investing business. The lender will...