BankThink
Working at Federal Reserve headquarters on Sept. 11, Roger Ferguson knew he had to act quickly. But he was the only senior Fed leader in the country that morning.
-
Elizabeth McCaul was in Japan on the morning of Sept. 11. Which gave her one advantage: she had a working phone.
September 10
New York State -
Donald Powell was sworn in as chair of the FDIC just two weeks before the Sept. 11 attacks. Settling into the role was not going to be an option.
September 10
Federal Deposit Insurance Corporation -
-
An agent that takes an unexpected action in the service of achieving its assigned goal can create vulnerabilities that may be difficult to spot in real time. These problems can compound if the agent continues to act within a bank's systems.
September 10
-
The section of the bill addressing stablecoin rewards is the product of a hard-won bipartisan compromise. Efforts to reword it would not only create confusion, but would seriously endanger its passage.
September 9
A consortium of international FIs are planning to issue a U.S. stablecoin in early 2027; London-based OpenPayd has entered the U.S. through its acquisition of MSB USA; the U.K. fined Citi £4.7 million ($6.3 million) for hundreds of transactions in breach of sanctions against Russia; and more in this week's banking news roundup.
Some midsize firms joined three giants of the industry in surpassing their peers among independent brokerages, in terms of the percentage increase in their average payouts per financial advisor last year.
The largest firm in the independent brokerage channel is also the fastest growing. But the industry's rapid expansion alongside rising equity values over the past three years may be hiding some firms' vulnerabilities.
A former Democratic congressman will serve as vice president of wholesale banking at Truist Financial; Bank of America's $72.5 million settlement with sex trafficking victims of the late financier Jeffrey Epstein is approved by a New York federal judge; HDFC plans to challenge the bankruptcy resolution involving a personal guarantee by media tycoon Subhash Chandra; and more in this week's banking news roundup.
BankThink is American Banker's platform for informed opinion about the ideas, trends and events reshaping financial services. View our