Wells Fargo extends insider trader restrictions to more employees
Some 3,400 additional staffers in the treasury management group will be required to get pre-clearance before making trades. The policy change was driven in part by increased regulatory scrutiny, the bank said.
Why coins are scarce and what government, banks are doing about it
The Federal Reserve, U.S. Mint and financial industry representatives are strongly considering a public call for Americans to deposit their spare change, among other fixes, to get coins circulating again. Meanwhile, banks of all sizes are getting creative at the local level.
Business models and adaptability will determine the success — or failure — of financial technology companies as they deal with fallout from the coronavirus outbreak.
Big banks urge HUD to shelve redlining plan. Small banks say not so fast.
The national conversation around systemic racism has compelled large banks to withdraw support from the "disparate impact" proposal. But community banks maintain that the proposed reforms would reduce frivolous claims.
Industry bristles at Biden proposal for public credit reporting agency
Banking and credit reporting groups say such an agency could politicize the reporting process. Consumer groups say it would offer consumers a necessary alternative.
OCC allows banks to hold cryptocurrency assets for safekeeping
Responding to an unnamed bank that had sought the opinion, the regulatory agency issued an interpretive letter clarifying that an institution's custody services can be used for cryptographic keys and other digital currency-related assets.
Uncertainty about CFPB has banks leery of small-dollar lending
Trump-appointed regulators gave the industry the green light to offer installment loans during the pandemic. But with concerns that the light could turn red in 2021, bankers remain extra cautious.
The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.
Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.
South African bank's approach to chatbots offers lessons for U.S. players; small lenders embrace automation for latest PPP round; flush with capital, Canadian banks eye U.S. acquisitions; and more from this week's most-read stories.
The Pittsburgh company intends to continue adding commercial offices and retail branches in markets it had been eyeing before agreeing to buy BBVA USA for $11.6 billion.