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.
1h ago
6 Min Read
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The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.2h ago
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As COVID-19 infections break records nationwide, some banks are once again closing lobbies. But many others are maintaining the status quo after instituting a host of safety protocols that didn’t exist in the spring.November 23
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Hospitality sector credits are coming out of forbearance just as coronavirus cases surge. Restructurings and charge-offs could mount unless vaccine distribution happens quickly enough to jump-start travel by mid-2021.November 23
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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
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.
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.
The former chairman recently butted heads with colleagues over the agency’s budget plans, and the Senate is expected to vote to confirm a successor early next month.
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 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
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Why PNC spent its war chest on BBVA; Trump’s 11th-hour nomination of Brian Brooks to run OCC complicates Biden regulatory agenda; Senate may not flip but Banking Committee is poised for shake-up; and more from this week’s most-read stories.November 20
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The Partnership for Carbon Accounting Financials recently released a methodology for measuring the environmental impact of loans and investments, a key hurdle to the banking industry's long-term goal of net-zero emissions tied to its portfolios.November 20
