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What does the FIS-Worldpay deal mean for banks?

A customer holds a contactless debit card issued by HSBC near a Worldpay payment terminal.
The companies could bring something new, such as merchant acquiring to community banks, but their merger could also cause anxiety about giant vendors.

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What's behind OCC's public rebuke of Wells Fargo?

Tim Sloan, president and chief executive officer of Wells Fargo, attends an event on opening day at Hudson Yards in New York on March 15, 2019.
Federal regulators normally hesitate even to name specific institutions, but the Office of the Comptroller of the Currency appears to be taking a different tack with Wells.

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JPMorgan commits $350M to job training programs

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Banks will continue to build in-house
JPMorgan Chase said it wants to improve training for technology-related jobs and help community college programs. The five-year initiative is one of several the company has announced in recent years in the name of community development.

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Citibank mortgage discount program violated Fair Housing Act: OCC

Citibank branch
Pedestrians pass in front of a Citigroup Inc. bank branch in the Brooklyn borough of New York, US., on Wednesday, Jan. 9, 2019. Citigroup Inc. is scheduled to release earnings figures on January 14. Photographer: Gabby Jones/Bloomberg
The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.

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Ripple effect feared as Fed mulls lifetime bans for two bankers

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Industry lawyers say the agency's decision could have implications for other bankers looking to change jobs.

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The inconvenient truth for GSE reform plans

Senate Banking Committee Chairman Mike Crapo
Senator Mike Crapo, a Republican from Idaho, speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Thursday, May 24, 2018. The committee is holding the hearing to look into cybersecurity risks to the financial services industry. Photographer: Aaron P. Bernstein/Bloomberg
There's bipartisan consensus that the conservatorships of Fannie Mae and Freddie Mac are unsustainable, but that may not be enough for lawmakers to upend the current system.

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Fed chief hints Wells Fargo's regulatory issues are far from over

Fed Chairman Jerome Powell
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, Dec. 19, 2018. The Federal Reserve raised borrowing costs for the fourth time this year, ignoring a stock-market selloff and defying pressure from President Donald Trump, while dialing back projections for interest rates and economic growth in 2019. Photographer: Andrew Harrer/Bloomberg
Speaking at a press conference, Federal Reserve Chairman Jerome Powell said the bank's risk management failures have required a dramatic overhaul of its processes.

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Citizens' AI drive hits a wall — commercial loan processing

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As regulatory and economic troubles build for BNPL lenders, Citizens is focusing on traditional installment lending items like home improvement and electronics.
An executive at the Rhode Island company said the complexity of business lending remains an obstacle to switching to entirely automated, paperless operations.

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More regional banks may merge to meet tech challenges

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As competitive pressures mount for midsize banks, more institutions are likely to follow the lead of BB&T-SunTrust and amass more resources for investing in AI, digital platforms and other cutting-edge technologies.

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'Friendly fraud' is on the rise. Are banks complicit?

Not so friendly fraud
Reports of improper charges by perpetrators who know the victim soared last year. Issuers and card networks are failing to tighten security, clearly label transactions and police chargebacks, critics say.

(Full story here.)
M&A Training Fair Housing Act GSE reform Artificial intelligence Consolidations Card fraud Wells Fargo FIS
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