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Chris Cumming

Recent Stories From this Author

Amex Unlikely to Blink in Antitrust Talks with DOJ
February 26, 2015 A court-imposed deadline for American Express to negotiate a fix to its merchant rules with the Department of Justice is about...

N.Y. May Make Executives Liable for AML Controls, Lawsky Says
February 25, 2015 New York could soon start holding bank executives personally responsible for their institutions' anti-money-laundering...

Turn Things Around, or Else: HSBC Chief's Message to U.S. Unit
February 23, 2015 A disappointing 2014 for HSBC has CEO Stuart Gulliver considering "extreme" changes at its U.S. bank and other struggling...

Amex Antitrust Ruling Could Spawn Price War
February 19, 2015 If you thought American Express' loss Thursday of a big antitrust case would help its rivals, think again. Visa, MasterCard,...

Citi Makes $100 Billion Climate-Change Pledge
February 18, 2015 Citigroup will commit $100 billion to help reduce the effects of climate change over the next 10 years as part of a new...

OCC Offers Sympathy But No Answers on Somali Money Transfers
February 18, 2015 Two weeks after U.S. bank remittances to Somalia dried up, regulators and lawmakers are making only slow progress at...

Compliance Toll at HSBC Bolsters Case Against Megabanks
February 17, 2015 HSBC has spent billions of dollars in compliance and legal costs, but the damaging scandals keep coming. Renewed attention on...

Remittances Cut, Somali & U.S. Politicians Demand Action
February 12, 2015 Calls for U.S. regulators to reform money-transmittal rules are growing after a California bank cut off remittances to Somalia.

Banks Running Out of Ways to Make Up for Weak Revenue
February 5, 2015 A long decline in loan-loss reserves hit a wall in the fourth quarter, as loan growth forced companies to set more cash aside...

New Ally Chief's Job: Add Fuel to Auto Lender's Overhaul
February 3, 2015 Jeffrey Brown, suddenly elevated to CEO of Ally Financial, will have to accelerate the auto lender's diversification plan...

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