The deals lets a North Carolina group skip the de novo process. West Town, which sold the bank, will use the funds to support a fast-growing business line.
The Financial Stability Oversight Council is shifting away from designating specific nonbanks and moving toward identifying activities that threaten the whole system. But some say that approach just weakens the council.
Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.
Sens. Mike Crapo and Sherrod Brown are asking Facebook about its consumer financial data collection practices as they consider data privacy legislation.
Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.
Readers weigh in on Wells Fargo's latest efforts to mollify regulators, debate the value of a "mini CFPB" in California, consider proposed changes to the Community Reinvestment Act and more.
Consolidation activity was ho-hum for most of April before a burst of transactions — and notable ones at that — were announced in the month's final week.
The central bank said that while financial markets' desire for higher yields raises the potential for losses, capital and liquidity safeguards temper any concerns about a looming crash.
The credit union regulator’s proposal to raise the threshold for home-sale appraisals to $1 million could introduce more risk into the financial system, particularly if bank regulators follow suit.
Departments across large institutions remain siloed, which leads to poor customer service. Fintechs are poised to take business from unhappy consumers unless banks address this problem.
A GSE exemption in the bureau’s “qualified mortgage” rule is set to sunset in 2021, and regulators should not try to extend it as some experts have suggested.
Person-to-person payments have become table stakes for institutions looking to attract and retain younger customers. The service may also be one of the keys to keeping big-tech insurgents like Amazon at bay.
The industry's technology priorities and budgets are headed for a distinct shift in 2019. What's in: new initiatives in digital banking and analytics. What's not: new initiatives built on blockchain technology.
The outcome of the midterm elections stands to recast debate on topics ranging from regulatory relief to the GSEs and the CFPB. Inside, a look at how the direction of financial services policy could alter under the newly divided Congress.
While businesses' ability to transact internationally has expanded, the act of settling payments has gotten more complex, expensive and time-consuming. That means opportunity for companies that can provide solutions.
Banking institutions that want to stay one step ahead of the new, nibble digital start-ups, must be offer a world-class customer experience, starting with customer on-boarding.
