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U.S. Bancorp reshuffles corporate and commercial leadership

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The company announced a slate of changes on Monday that includes the creation of a new position overseeing strategy for corporate and commercial banking.

(Full story here.)

As PPP enters forgiveness phase, some banks see outsourcing as best move

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Lenders are selling their Paycheck Protection Program loans or hiring outside companies to navigate the process in an effort to reduce risk and avoid overloading their employees.

(Full story here.)

What happens if Mastercard and Visa gobble up all the data aggregators?

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Thanks to their close relationship with the card networks, banks stand to benefit most from deals like Mastercard's agreement to buy Finicity and Visa's pending purchase of Plaid. The prospects for fintechs and consumers are dicier.

(Full story here.)

Wells Fargo to cut dividend; other big banks boost capital buffer

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In response to the Federal Reserve's stress tests, Wells said it will lower its third-quarter distribution to shareholders. Meanwhile, JPMorgan Chase, Goldman Sachs and five other companies announced stress test capital buffers that exceed the minimum requirement.

(Full story here.)

Supreme Court strikes down CFPB leadership structure

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In a split 5-4 decision, the justices gave presidents new power to remove the agency's head at will. The ruling could have far-reaching implications for other regulators with single directors.

(Full story here.)

Where FDIC, OCC chiefs differ on post-pandemic banking

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While they are not dramatically opposed, Jelena McWilliams and Brian Brooks have articulated their own ideas on postal banking and the use of artificial intelligence in lending.

(Full story here.)

After ruling, stage set for new battles over CFPB's future

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The Supreme Court threw out a key statutory provision concerning the agency's leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau.

(Full story here.)

Dime, Bridge Bancorp combining in $489 million merger

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The deal will create an $11 billion-asset banking company with operations in a number of markets around New York City.

(Full story here.)

Banks continue to embrace robo advisers (even if customers don't)

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Citizens Bank and Citigroup are among the financial institutions plugging away at a service that has gained little traction among customers.

(Full story here.)

Get ready for wave of small-business defaults, PNC's Demchak warns

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With stimulus money running out and forbearances set to expire, consumer spending is bound to shrink. That's bad news for business owners and their landlords, the Pittsburgh bank's CEO says.

(Full story here.)

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Paycheck Protection Program Data management
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