SunTrust glitch, Amazon and Google mortgages, Tim Sloan job security: Top stories of the week

SunTrust glitch takes down online, mobile service

SunTrust Banks Inc. signage hangs above an automated teller machine (ATM) at a branch in Washington, D.C., U.S., on Tuesday, Nov. 11, 2014. SunTrust Banks Inc. announced plans in Aug. to hire as many as 200 people for its investment bank to expand businesses including capital markets and stock research and add expertise targeting the energy and health-care industries. Photographer: Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

The bank chalked up its outage to "a normal system upgrade that experienced technical difficulty."

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JPMorgan forms commercial banking group to focus on startups

Pedestrians pass in front of a JPMorgan Chase & Co. office building in New York, U.S., on Wednesday, April 11, 2018. JPMorgan Chase & Co. is scheduled to release earnings figures on April 13. Photographer: Christopher Lee/Bloomberg

Christopher Lee/Bloomberg

The New York company said Wednesday that the new group will provide loans and other services to early-stage, consumer-focused companies.

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Why Regions did away with teller jobs

Decline in number of branches at Regions Financial, 2010-2018.

When the Birmingham, Ala., bank was rethinking its branch strategy, it had to reconsider the role of its tellers. Ultimately, it decided to transition those workers to a more general banker role that emphasizes meaningful conversations with customers and continuous career progression.

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OCC's Otting: Why do state regulators want to limit consumer choice?

Comptroller of the Currency Joseph Otting

Former OCC chief Joseph Otting's CRA proposal was finalized in 2020. However, acting Comptroller Michael Hsu rescinded that in favor of the joint proposal.

Andrew Harrer/Bloomberg

The comptroller of the currency argues that special-purpose fintech charters will benefit consumers and businesses, despite opposition.

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Wells Fargo to cut up to 26,000 jobs within three years

A man uses a Wells Fargo ATM inside a branch in New York.

A man uses a Wells Fargo & Co. automated teller machine (ATM) inside a bank branch in New York, U.S., on Tuesday, July 12, 2016. Wells Fargo & Co. is scheduled to release earnings figures on July 15. Photographer: Eric Thayer/Bloomberg

Eric Thayer/Bloomberg

The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020.

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Mark Olson served as Fed governor, PCAOB chair, community banker in 50-year career

Mark Olson, former Federal Reserve governor and president of the American Bankers Association.

Mark Olson, who had a long career in banking including running a Minnesota bank founded by his father, serving as president of the American Bankers Association, and sitting on the Federal Reserve Board of Governors, died Sept. 12, 2018.

Olson ran a bank founded by his father in his hometown of Fergus Falls, Minn., before a long career in Washington.

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