Hard part of reg relief, pot banking regtech, Mulvaney's twist: Top stories of the week

Published
  • July 27 2018, 5:20pm EDT
Federal bank regulators consider roughly a dozen new rules; firms tout tools to help financial institutions bank legal marijuana-related businesses; Mick Mulvaney defends CFPB enforcement powers; and more from this week's most-read stories.

1 The hard part of reg relief is just getting started

The federal bank regulators are considering roughly a dozen new rulemakings in response to the bill rolling back certain sections of Dodd-Frank.

(Full story here.)

2 KeyCorp exec bolts for Toyota

Vipin Gupta, who was chief information officer at Key Community Bank, will oversee strategy for information technology at Toyota Financial Services.

(Full story here.)

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3 Banks team with fintechs to bring AI to commercial accounting

Citi and other banks are investing in automation aimed at speeding up the old-fashioned process for institutional clients' receivables and payables.

(Full story here.)

4 Pot banking regtech is ready for its moment

Several firms are touting tools to help financial institutions bank legal marijuana-related businesses, an industry expected to yield $10 billion in retail sales this year.

(Full story here.)

5 CFPB orders TCF to refund consumers for overdraft charges

The bank also agreed to pay a $5 million fine to settle allegations over how it obtained consumers' consent.
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(Full story here.)

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6 In a twist, Mulvaney now defending CFPB enforcement powers

An uptick in fines and a new tactic to counter claims about the CFPB's authority contrast sharply with the agency's rhetoric.

(Full story here.)

7 Synovus returns to large-scale M&A with FCB acquisition

The $2.9 billion deal is the Georgia company's first traditional whole-bank acquisition since 2006. It is also the year's second-biggest bank acquisition.

(Full story here.)

8 HSBC's strategy to improve digital services for commercial clients

The bank sees its global reach as an advantage in supporting evolving business customer needs.

(Full story here.)

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9 With loan growth tepid, banks are short on ways to juice profits

Despite some green shoots in key credit segments, total loan growth was light at many banks last quarter. Rate hikes are threatened, and deposits will get pricier — where will the earnings come from?

(Full story here.)

10 EBay's Apple, Square pacts could strangle community banks

With just two partnerships, eBay is cutting off a big opportunity for community banks.

(Full story here.)