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Jim Richards, who served as the bank's head of anti-money-laundering compliance, says the Federal Reserve is wrongfully denying him compensation that was designed to keep him employed at Wells Fargo.
May 9
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New Jersey-based ConnectOne Bancorp received FDIC approval for its merger with First of Long Island Corp; lending-services fintech Oportun makes changes to its board of directors; Associated Banc-Corp's Steven Zandpour will succeed David Stein as head of consumer and business banking; and more in this week's banking news roundup.
May 9
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While Vista Bank is focusing on organic growth in Florida, it's positioning itself as a Texas buyer.
May 9
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The Trump administration says it will nominate Jonathan McKernan to serve as Treasury undersecretary for domestic finance. McKernan has already been nominated as the next director of the Consumer Financial Protection Bureau.
May 9
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Simon Randall is the CEO and co-founder of Pimloc, an AI company changing how global organizations can responsibly manage video content while maintaining public trust. Before Pimloc, he led the OMG Life team to develop and launch the world's first intelligent wearable camera and its associated technology platform licensing, before spinning out the visual classification side of the business to create Pimloc in 2017. He previously worked for a range of global businesses in London, Sydney and Istanbul, bringing with him a wealth of consumer tech experience including 12 successful years at Nokia across go-to-market, marketing, business strategy, insight and planning, global online sales, global performance marketing and product development areas. Prior to Nokia, he worked in a range of creative hot-houses and strategic consultancies across the beverages, banking and tech sectors.
May 9
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The man who blew the whistle over the incident says the bank fired him in retaliation for reporting what he called a "significant security breach."
May 9
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The Conference of State Bank Supervisors says the OCC's 2011 preemption rules are out of step with Supreme Court rulings and unfairly disadvantage the state banking system.
May 9
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Ending the separation of banking and commerce would open the door to dangerous concentrations of power and influence, and would threaten financial and economic stability as well as access to credit for consumers and Main Street businesses.
May 9
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Incentive pay for investment bankers at major firms is expected to fall this year by 13% from 2021 levels, according to a consulting firm's report. But stock traders may reap the rewards of market volatility.
May 9
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The 2020 case, in which the Securities and Exchange Commission tried to hold Ripple accountable to securities law, offers little clarity for the regulation of crypto tokens.
May 9
