House lawmakers go light on BB&T-SunTrust merger

Rep. Maxine Waters, D-Calif., right, and Rep. Patrick McHenry, R-N.C.
Representative Maxine Waters, a Democrat from California and chairwoman of the House Financial Services Committee, right, speaks as ranking member Representative Patrick McHenry, a Republican from North Carolina, left, listens during a hearing with Steven Mnuchin, U.S. Treasury secretary, not pictured, in Washington, D.C., U.S., on Wednesday, May 22, 2019. Mnuchin said it would be "unlawful" to give President Donald Trump's tax returns to Congress and asserted that a confidential IRS draft memo revealed on Tuesday didn't contradict him. Photographer: Andrew Harrer/Bloomberg
The deal cleared another key hurdle as Financial Services Committee members showed little interest in slowing the formation of Truist Financial.

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Santander Bank names longtime MUFG Union executive its CEO

Tim Wennes CEO at Santander Bank
The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.

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The fintechs trying to solve America's retirement problem

Rhian Horgan, CEO, Kindur
Kindur and Finhabits are trying to create retirement plans for people who lack them. Are banks missing an opportunity?

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What the big banks left out when they slammed Fed over real-time payments

federal-reserve
In a string of enforcement actions issued Thursday, the Federal Reserve barred one former banker from the industry for misappropriating confidential supervisory information and fined three others for misappropriating internal bank records.
The CEO of a big-bank lobbying group recently said that the central bank may be on the verge of pulling a bait and switch on faster payments. But his comments glossed over a lot of the relevant history.

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CFPB ending special treatment for Fannie, Freddie in mortgage rule

CFPB Director Kathy Kraninger
Kathy Kraninger, director of the Consumer Financial Protection Bureau (CFPB), speaks during an event at the Bipartisan Policy Center in Washington, D.C., U.S., on Wednesday, April 17, 2019. Kraninger, confirmed in December by the Senate, took over an agency created by the 2010 Dodd-Frank Act that regulates everything from credit cards to mortgages. Photographer: Andrew Harrer/Bloomberg
The agency's director said it will let a temporary GSE exemption from the "qualified mortgage" regulation expire.

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Democrats try to force Fed's hand on faster payments

Sen. Elizabeth Warren, D-Mass.
Senator Elizabeth Warren, a Democrat from Massachusetts, speaks during a news conference on cancelling student loan debt in Washington, D.C., U.S., on Tuesday, July 23, 2019. Warren has introduced her student loan relief plan as a bill in the Senate, proposing to eliminate up to $50,000 of student loan debt for borrowers making less than $100,000 a year. Photographer: Andrew Harrer/Bloomberg
Lawmakers including presidential hopeful Elizabeth Warren have introduced a bill that would put the Federal Reserve in charge of creating its own real-time payments network.

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Regions' big investment in digital is paying off

Tech investment plans for 2019 at Regions Financial
The Alabama bank, which is spending hundreds of millions on technology, says the ability to make faster credit decisions is one reason digital metrics such as checking account openings are soaring.

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A regional bank chief's case for the long view

revenue and noninterest expense at Citizens Financial
Weighing in on interest rate and other uncertainties facing all banks, Citizens Financial CEO Bruce Van Saun emphasized investments in point of sale, digital banking and other initiatives meant to enhance revenue down the road.

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Inside BB&T-SunTrust's community reinvestment plan

bbt-and-suntrust-atms-bl
Will the new commitment, which is 5% over what the banks have reinvested recently on their own, assuage advocacy groups' concerns about the merger?

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Regional banks use hedging tactics to combat rate cuts

Don Kimble of Key Bank, left, and Greg Carmichael of Fifth Third.
KeyCorp, Regions Financial and others have sacrificed short-term profits to avoid being crushed by an anticipated decline in interest rates.

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