The industry is asking for more time to comment on a regulatory proposal that aims to prohibit banks from denying services to oil and gas companies and other firms in politically sensitive industries.
November 25
6 Min Read
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The 5-year-old company, which recently raised $131 million, says its strong growth reflects the timeliness of its mission: helping consumers who live paycheck to paycheck build wealth.November 25
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The plan still lacks concrete details about standards banks must meet to earn high ratings, but the agency said the new methodology would end grade inflation and could penalize banks that underperform.November 24
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The Trump administration has compelled the Federal Reserve to shut down the Main Street Lending Program and other facilities that aid banks’ pandemic relief efforts, but President-elect Biden’s Treasury nominee could help turn the spigot back on.November 24
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CEO Wendy Cai-Lee says Piermont Bank can do it all for financial technology firms: be their commercial banker, be their banking-as-a-service provider and develop APIs and other cutting-edge products for them.November 24
Podcast
The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.
Podcast
Opening a bank or investment account — or even securing employment in a racism-free workplace — is out of reach for many Black Americans.
Twenty of this year’s honorees were among our 25 Most Powerful Women in Banking in 2019, while four — Citizens Bank of Edmond’s Jill Castilla, City National Bank’s Kelly Coffey and JPMorgan Chase’s Lori Beer and Jennifer Piepszak — are former Most Powerful Women to Watch making their debuts here.
Many of the women in this year's list are familiar to American Banker readers, including J.P. Morgan's Mary Callahan Erdoes, Fidelity Investmemts' Abigail Johnson and Synchrony Financial's Margaret Keane. Seven honorees are newcomers, including two, Maria Hackley and Ida Liu, from Citigroup.
In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU.
The biggest questions following the former chairman's resignation aren't about regulation but whether the agency can recapture a spirit of bipartisanship and collaboration.
The annual survey from the National Credit Union Administration shows credit unions making gains in some of their inclusion efforts, but the industry still has much it can do to improve.
Leaders at the 85 institutions that made the eighth annual ranking have found ways to navigate crises (there have been plenty this year) while also bolstering employee morale.
They're making some headway in building workforces that better reflect the communities they serve, but progress has been slow. Here's why.
PODCASTS
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The success of some fintechs in getting bank charters this year only underscores how onerous the process remains for many others. That’s unlikely to change unless policymakers reconsider what it means to be a bank.November 18
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A Federal Reserve-issued digital dollar could speed up payments, expand financial access and reduce financial crime. But it also brings trade-offs that policymakers are only just beginning to consider.November 4
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Most fintechs entertain the idea of getting a commercial banking license from time to time, but Current is content partnering with banks, says founder and CEO Stuart Sopp.November 9
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Ludwig, an ex-banking regulator and CEO of Promontory Financial Group, describes how economic conditions for middle- and low-income Americans have declined and advocates a living wage, investment in infrastructure, smart regulation and other solutions.October 26
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The California company, which filed an application Monday with the Office of the Comptroller of the Currency, is following a path charted by Varo Money and SoFi.November 23
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The agency said federal thrifts must abide by the same rules as national banks pertaining to membership in payment systems and codified policies on acceptable derivatives practices among a slew of technical changes.November 23
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The megabank and community bank recently announced they're offering accounts through the payment app. Both gave similar reasons: They need big tech to help them attract new customers.November 23
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Participation in the Paycheck Protection Program and other emergency lending during the pandemic has swelled many small banks’ balance sheets. Federal regulators are giving them a temporary pass on supervisory requirements tied to their size.November 20
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Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances.November 20
