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Paige Smith

Paige Smith

Fortune

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$30 billion credit-card deal with Visa, Mastercard is one of the biggest antitrust settlements ever, capping a nearly 20-year fight

The legal fight over credit card swipe "interchange" fees dates back to at least 2005 — before both Visa and Mastercard were spun off.

26.03.2024 10

Fortune

Paige Smith

Powell warns commercial real estate woes will lead to bank failures: 'This is a problem that we’ll be working on for years’

The Fed chair told lawmakers on the Senate Banking Committee that the Fed is talking with lenders to make sure they are on top of potential losses.

08.03.2024 20

Fortune

Paige Smith

Schwab CEO pulls curtain down on year that was 'certainly the most challenging since the bursting of the internet bubble in 2000'

Charles Schwab Corp. reported declines in profit, new assets and deposits — a set of results that initially sent its shares tumbling.   

18.01.2024 3

Fortune

Paige Smith

Federal government warns banks about offering buy-now, pay-later lending that could come back to bite them

Traditional lenders are joining firms like Affirm, Klarna, and Afterpay in giving customers shorter-term borrowing options.

06.12.2023 10

Fortune

Paige Smith

Schwab lays off up to 2,200 workers, calling it 'hard but necessary steps,' as it cuts costs while integrating TD Ameritrade after acquisition

Schwab said in August it planned to cut jobs and close or downsize offices to achieve at least $500 million in annual cost savings.

01.11.2023 8

Fortune

Paige Smith

Discover reports 'indications of stress' among consumers as profit drops 33%

Discover Financial Services said it's seeing higher loan balances and increasing delinquencies among credit card users.

19.10.2023 5

Fortune

Paige Smith

LendingClub, which targets consumers buried by credit card debt, isn’t doing so well itself

Blaming "higher interest rates," the company said it will fire 172 employees and report a steep decline in profit.

13.10.2023 5

Fortune

Paige Smith

Goldman Sachs CEO David Solomon, under attack for his leadership style and strategic hiccups, says he's been turned into a 'caricature' in the media

He says “It’s not fun watching some of the personal attacks in the press.”

08.09.2023 2

Fortune

Paige Smith

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