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JPMorgan Chase get a new branch banking leader; Trump's anti-Wells tweet stokes concerns; blockchain, GSE survival, and more in this week's top stories.
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JPMorgan Chase card executive takes reins of branch banking

Pamela Codispoti, credited with launching the popular Chase Sapphire Reserve credit card, has been put in charge of the company's network of more than 5,200 branches.

(Full story here.)
President Donald Trump
U.S. President Donald Trump speaks during a cabinet meeting at the White House in Washington, D.C., U.S., on Wednesday, Dec. 6, 2017. Trump said his plan to recognize Jerusalem as Israel's capital and move the U.S. embassy there is overdue while world leaders from the Vatican to Tehran denounced his stance as risking fresh violence in the region. Photographer: Kevin Dietsch/Pool via Bloomberg
Kevin Dietsch/Bloomberg

Trump's Wells tweet fuels regulatory independence concerns

The president's vow to come down hard on the San Francisco bank fans a debate about the independence of regulatory agencies such as the CFPB.

(Full story here.)
Chart on adoption of remote browser, or isolation, technology

Why JPM, Amex, HSBC backing 'isolation' web browsing

In a rare show of public support for a security technology, the banks are leading a $40 million funding round for Menlo Security, provider of browser technology that keeps malware at bay — and they're using it, too.

(Full story here.)
Vanguard headquarters in Malvern, Pa.
The Vanguard Group headquarters are seen in Malvern, Pennsylvania on Friday, September 4, 2003. Vanguard Group, the second-largest U.S. mutual fund company, received a subpoena from New York Attorney General Eliot Spitzer as part of an inquiry into illegal trading practices in the $6.9 trillion industry. Photographer: Mike Mergen/ Bloomberg News.
Mike Mergen/Bloomberg News

Vanguard mutual fund giant plans blockchain network

Rather than forming a consortium of peers to investigate blockchain technology, as many banks have done, one of the world's largest asset managers is acting on its own.

(Full story here.)
Rep. Jeb Hensarling, a Republican from Texas and chairman of the House Financial Services Committee, listens during a House Financial Services Subcommittee hearing in Washington.

Fannie and Freddie: Should they stay or should they go?

Until recently, there was a consensus among policymakers that Fannie Mae and Freddie Mac needed to be eliminated. That just changed. Here's why.

(Full story here.)
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Community bankers' grim reality: This is the new normal

Executives at small banks are wary about 2018 as concerns about lackluster loan demand, low yields and rising deposit prices abound.

(Full story here.)
Louie Gasparini, CEO of Covault.

Can a BBVA spinoff crack the digital ID code?

Covault has begun offering a digital identification and virtual safe deposit box service to banks and others. Similar efforts have failed before, but its backers say mobile apps and the cloud have made the service more practical.

(Full story here.)
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For midsize banks, what's the point of a holding company?

The holding company structure makes sense for large banks with complex business models and small banks looking to bulk up through acquisitions. But for a large swath of banks in the middle, the benefits are harder to spot.

(Full story here.)
New York Attorney General Eric Schneiderman
Eric Schneiderman, attorney general of New York, listens during a Bloomberg Television interview in New York, U.S., on Wednesday, Feb. 8, 2017. Schneiderman explained the concept of "sanctuary cities" in the United States and discussed President Donald Trump's threat to cut funding for those cities to punish their stances on immigration. Photographer: Kholood Eid/Bloomberg
Kholood Eid/Bloomberg

Mulvaney unfit to lead CFPB: Schneiderman, 16 state AGs

Past statements by Office of Management and Budget Director Mick Mulvaney about the Consumer Financial Protection Bureau should disqualify him from leading the agency, according to New York Attorney General Eric T. Schneiderman and 16 other state AGs.

(Full story here.)
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JPMorgan Chase, Barclays join IBM quantum computing network

Banks are looking at using the powerful number-crunching technology to make risk calculations, analyze portfolios and protect their systems against sophisticated cyberattacks.

(Full story here.)
Branch banking Blockchain GSE reform Identity verification Donald Trump Mick Mulvaney Wells Fargo CFPB News & Analysis
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