Several states pledged to compensate for a slowdown in enforcement at the Consumer Financial Protection Bureau under Mick Mulvaney, but their efforts have been complicated by tight budgets and doubts over whether such initiatives are necessary.
The banking industry has been raising alarms about the growth of a few credit unions, but critiques ignore the vast size differences between the two sectors.
Bank of America and several other large U.S. financial services companies, as part an effort organized by the Thomson Reuters Foundation and Western Union, have published resources to help smaller banks spot signs of forced labor and kidnapping.
The Securities and Exchange Commission moved to require states and local governments to disclose bank loans and privately placed debt, seeking to address concerns that bondholders are being left in the dark about a fast-growing segment of public finance.
A Florida politician who has run a pro-medical marijuana campaign said Wells Fargo closed her account over her ties to the industry, adding that the incident was an example of the challenges legal cannabis businesses face from the U.S. financial system.
When Equifax disclosed its enormous data breach that exposed the personal information of some 143 million people, the reaction of many consumers and corporate executives was similar and familiar: our data is at risk at all times and the less access we give to others the better. But that's precisely the wrong lesson.
As director of the Fed's Division of Research and Statistics, David Wilcox is responsible for briefing the Federal Open Market Committee on the outlook for the national economy.
Top U.S. housing regulator Mel Watt is privately reassuring people close to him that he will keep his post as authorities investigate an employee's claims of sexual harassment. Now, his accuser is heightening the pressure — speaking out publicly for the first time.
The money trail is a prominent part of investigations dominating headlines in the Trump era, casting attention on banks that have facilitated transactions for various people in the president's orbit.
No outrage over more Wells disclosures; Steve Calk accused of conspiring with Manafort against his own bank; FBI warns banks about threat to ATMs; and more from this week's most-read stories.
Readers respond to how the industry is donating ahead of the midterms, weigh in on a push to apply CRA-like standards to fintechs, react to a controversial decision by a California court and more.
President and CEO
National Association of Federally-Insured Credit Unions
The banking industry has been raising alarms about the growth of a few credit unions, but the critiques ignore the vast size differences between the two sectors and the tremendous growth banks have seen since the crisis.
The president's suggestion that public companies report financial results twice a year instead of quarterly might win nods of approval from CEOs, but it’s unlikely to fly with investors. Still, there’s room for reforms to reporting practices, some backed by prominent bankers.
Although it’s required to by law, the Federal Deposit Insurance Corp. has not had an independent director with state bank supervisory experience since 2012. It’s time for that to change.
The Community Reinvestment Act can lower — not increase — bank credit availability in some low-income regions, and the OCC should reconsider holding fintechs to the same standards with its new charter.
The widely held belief that application programming interfaces are the key to banking’s future rests on the many ways early adopters are experimenting with the technology. But security and privacy concerns are still leading many in the industry to hold back.
As the role of accounting evolves and CFOs reevaluate how the department delivers value, one thing will remain constant: the need to access accurate and dependable financial data.
