Wells Fargo consumer chief may testify of 'fear' her predecessor inspired
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Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank's regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank's phony-accounts scandal, could be fined as much as $25 million.

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When customers contact Wells Fargo, AI system goes to work
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An internally built system called Advanced Listening analyzes phone calls, emails, text messages and more, identifying possible compliance violations, systemic issues and opportunities to improve processes, products and customer service.

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Why Amex is buying Kabbage
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American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

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Fannie, Freddie refi fee will wipe out millions in mortgage profits
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Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

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Banks ramp up child care, home-schooling support for working parents
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As their employees continue to navigate the challenges of balancing work and home life during a pandemic, banks are pitching in to offer everything from child care reimbursement to nanny placement to tutoring services.

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Small banks are dominating the Fed's Main Street Lending Program
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With big banks largely shunning the program, small banks see an opening to grab more market share in commercial lending.

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Congress, not the OCC, decides what is and isn't a bank
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The Office of the Comptroller of the Currency is overstepping its authority in granting charters to fintechs and other companies that don't take deposits.

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Is Texas commissioner sending message with de novo rejection?
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Observers say the rare denial is rooted in skepticism that a new bank can succeed under current economic conditions and a signal to other proposed banks to hit the pause button.

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California's 'mini-CFPB' plan is back in play. Banks aren't happy.
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A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

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MUFG Union Bank hires chief information security officer
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Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.

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