The Latest

The credit bureaus plan to add repayment data for installment loans, a move that can inform credit decisions and help answer regulators' questions about how such borrowing affects consumers' financial health.

The last three months of 2021 were strong for most lenders, which will report results soon. But the outlook for the coming months has been clouded by the spread of the newest coronavirus variant, which has many banks grappling with staffing shortages and branch restrictions.

Some policymakers have been calling for a temporary halt to large bank deals while the criteria for approvals are reevaluated. Yet Congress was clear about its intention to stop regulators from holding up bank mergers, argues the head of a trade group for large financial services companies.

After Federal Deposit Insurance Corp. Chair Jelena McWilliams’ resignation, a Democrat on the board will temporarily run the agency. But it's still unclear who will call the shots over the long run and how policymaking will be affected by the FDIC's leftward shift.

The Senate Banking Committee will hold separate hearings next week for Jerome Powell on his nomination to a second term as Federal Reserve chair and for Lael Brainard’s elevation to vice chair.

Gaye Erkan was widely seen as the front-runner to succeed founder James Herbert. Following her abrupt departure, the San Francisco bank must decide whether to find its next leader internally or recruit an outsider.

Wells Fargo Chief Risk Officer Amanda Norton, who joined in 2018 to help turn around the scandal-ravaged lender, is leaving as the cleanup continues. 

American Express will give employees two weeks’ notice before it starts bringing a larger number of staffers back to its offices. The credit card giant had previously said it intended to start bringing back employees on Jan. 24.

Jennifer Ventimiglia, who joined Fortera in 2015, will also become chief executive after Tom Kane retires from this role.

Bank of America hired Benjamin Saunders from JPMorgan Chase for its financial institutions investment banking business.