Bank of America's Cathy Bessant: The Most Powerful Woman in Banking
Cathy Bessant, Bank of America's chief operations officer and American Banker's Most Powerful Woman in Banking, has undertaken major initiatives outside her institution, including a focus on responsible AI.
U.S. Bank embraces open banking with data-sharing agreements
Signage is displayed at a US Bancorp branch in Louisville, Kentucky, U.S., on Thursday, July 12, 2018. US Bancorp is scheduled to release earnings figures on July 18. Photographer: Luke Sharrett/Bloomberg
The bank has developed APIs to feed customer data directly to seven fintechs and data aggregators, including MX and Finicity.
Organizers apply with FDIC to open women-run bank in Chicago
A man films the exterior of the Federal Deposit Insurance Corp. headquarters in Washington, D.C., U.S., on Tuesday, Sept. 29, 2009. The FDIC, seeking to replenish deposit reserves as banks fail at the fastest pace in 17 years, today voted to unanimously to have lenders prepay fees through 2012 raising about $45 billion. Photographer: Andrew Harrer/Bloomberg
FWBank would be led by Marianne Markowitz, former acting SBA director. Amy Fahey, a former JPMorgan Chase executive, would serve as chairman.
Gender pay gap is 'a challenge we need to tackle together'
Michael Corbat, chief executive officer of Citigroup Inc., poses for a photograph following a Bloomberg Television interview in Davos, Switzerland, on Thursday, Jan. 21, 2016. World leaders, influential executives, bankers and policy makers attend the 46th annual meeting of the World Economic Forum in Davos from Jan. 20 - 23. Photographer: Simon Dawson/Bloomberg *** Local Caption *** Michael Corbat
Citigroup has set measurable goals for increasing representation of women and U.S. minorities in senior, higher-paying roles and CEO Michael Corbat is urging other financial firms to follow suit.
How Supreme Court could decide CFPB constitutionality question
Brett Kavanaugh, associate justice of the U.S. Supreme Court, leaves following a State of the Union address by U.S. President Donald Trump, not pictured, to a joint session of Congress at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Feb. 5, 2019. Trump cast his fight against illegal migration to the U.S. as a moral struggle, and charged in his second State of the Union address that partisan investigations threaten economic progress under his administration. Photographer: Alex Wroblewski/Bloomberg
If the court agrees to hear the case, its conservative majority could make it easier for a president to fire a CFPB director, though other outcomes are possible.
Banks counting on GSE reform to stop mortgage share erosion
While no one is suggesting that the plan will help banks regain the share they've ceded to nonbanks, bankers believe that stabilizing Fannie Mae and Freddie Mac could at least help them keep what they have.
Bad actors targeting fintech aggregators: Fincen chief
The U.S. Department of the Treasury building stands in Washington, D.C., U.S., on Friday, July 29, 2011. President Barack Obama and congressional leaders began a fresh attempt to reach agreement on raising the U.S. debt cap, with a potential framework for a deal emerging two days before a default deadline. Photographer: Andrew Harrer/Bloomberg
Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms.
BBVA USA was one of the first U.S. banks to deploy a real-time core system and to purchase a neobank. Here's what PNC may keep, and what it may jettison, after it acquires the U.S. unit of the Spanish banking giant.
The OCC, Federal Reserve and FDIC said that a failure to adequately prepare for the transition away from Libor could undermine banks' safety and soundness, but also extended the sunset date for many iterations of the interest rate benchmark to July 2023.
A new report from California shows that less-regulated mortgage lenders may be doing a better than banks of serving Black and Latino homebuyers. But consumer advocates say the data bolsters the case for tougher supervision of nonbanks.
Harris Simmons, the chairman and CEO of Zions Bancorp. in Salt Lake City, said in a letter to employees that he was recently diagnosed with a form of non-Hodgkin’s lymphoma and would be pursuing a treatment plan over the next several months.