Receiving Wide Coverage ...
Fixed: Just one day before its widely anticipated annual meeting, Wells Fargo got a bit of good news from U.S. financial regulators. The Federal Deposit Insurance Corp. and the Federal Reserve said the bank "
Still, the bad news keeps coming. The city of East Orange, N.J., said it withdrew its funds from the bank, accusing it of engaging in
The New York Times offers a preview of the company's annual meeting, with an emphasis on the possibility some members of its board of directors could fail to win reelection. The bank does have one influential ally, though: Warren Buffett's Berkshire Hathaway, which owns about 10% of the bank's stock, is
Wall Street Journal
Wider umbrella: The European Union's General Data Protection Regulation, which takes effect in May 2018, is expected to
Come here Watson: IBM plans to use its Watson technology to help Wall Street banks
A lesson in finance: The paper investigates the federal Parent Plus program, in which millions of American parents have taken out loans to help their children
"Parent Plus is one thread in a web of higher education loan programs that have come to resemble the subprime mortgage industry a decade ago," the paper says.
Laissez-faire: "Main Street lending institutions should not have to keep paying for the sins of others," Sen. John Kennedy, R-La., says in an op-ed piece. So he is introducing a bill, called the Reforming Finance for Local Economies Act, that would exempt community banks and credit unions with assets of less than $10 billion from Dodd-Frank.
Under his bill, small banks "would no longer have to reduce products and services and divert resources to compliance. Their skill in evaluating risk would no longer be reduced to a mathematical exercise. They would be free to concentrate on
Silver lining: Failed banks, including IndyMac and Washington Mutual, may be remembered with disdain by the public, but for thousands of
Financial Times
Taking on the giants: UnionPay has become the largest bank card group in the world by value of transactions, although nearly all of it comes from its home market in China. But that might be about to change, as the company plans to
New York Times
Failed thinking: Financial columnist William D. Cohan says the "crafty" Gary Cohn, head of the National Economic Council, is playing Sen. Elizabeth Warren, D-Mass., "for the fool" over her desire to try to recreate Glass-Steagall. "What's unfortunate is that she has yet to figure out that not only is the idea of separating investment banking from commercial banking
Washington Post
Forgiving: VantageScore, the credit scoring model developed by TransUnion, Equifax and Experian, will soon be putting more weight on the trends in a person's credit report. "The new data is meant to
Quotable ...
"For many people in emerging markets, this will be the first card they come in contact with. That's a big shift from when Visa and MasterCard were