Consumer banking
Consumer banking
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Among U.S. financial regulators, Chopra is the one who bankers fear the most. His agency is expected to battle with the financial industry in 2023 on topics ranging from discrimination to fees and the bureau's funding mechanism.
December 28 -
The New Canaan Bank would have been the state's first de novo in more than a decade.
December 28 -
At the start of 2022, banks sat atop a flood of deposits. But as the year progressed, they faced greater pressure to pay higher rates, and the trends that drove the rapid shift show no signs of abating.
December 28 -
The Amesbury-based bank reported solid growth and profitability throughout Dave Mansfield's 9-year tenure. The decision followed news of losses tied to the bank's move into digital-asset lending, though the bank has yet to file a 10-Q for the third quarter.
December 27 -
Despite a slow year overall, banks announced several substantial merger and acquisitions in 2022.
December 27 -
The U.S. should look abroad for innovative solutions to the problem of assessing the creditworthiness of borrowers with little formal credit history.
December 26 -
The $23 million deal, announced more than a year ago, was terminated following regulatory delays.
December 23 -
SNAP recipients need easy and reliable access to their account balances and transaction histories. The Consumer Financial Protection Bureau ought to clear the way and let that happen.
December 23 -
Amid high inflation and favorable conditions for job-seekers, several banks hiked their starting wages this year. But even as their labor costs rose, they still found it hard to hang onto employees.
December 23 -
The bank hired Thomas Geisel to take over as president and chief executive, effective immediately. He succeeds Harry Madonna, who had been interim leader after the ouster of Vernon Hill.
December 22 -
The National Credit Union Administration must extend a program allowing credit unions to offer long-term loans for residential solar power installations.
December 22 -
The state's Department of Financial Services issued proposed guidelines on how banks and mortgage lenders should manage climate-related risks. But the guidance was quickly slammed by a trade group representing community banks.
December 21 -
The Treasury Department's top official for financial markets and stability expressed little urgency over the federal government's need to prepare for the potential launch of a digital U.S. dollar.
December 21 -
A handful of banks and credit unions with assets under $3 billion each rolled out or expanded its use of distinctive technologies, including a contactless-payment ring.
December 20 -
Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.
December 20 -
Recent clashes over how much investors should get paid when borrowers switch to a new benchmark are a small part of a much larger struggle by global regulators to shift markets away from the scandal-tainted London interbank offered rate.
December 20 -
Though housing is experiencing severe rate-related stress, mortgage banking remains central to the Denver-based bank's business model. The Texas market has held up better than much of the rest of the country, company executives say.
December 20 -
In a sprawling consent order, the Consumer Financial Protection Bureau order cited mismanagement that extended from auto loans to mortgages and deposit accounts. Wells Fargo CEO Charlie Scharf called the agreement a critical milestone to "put these issues behind us."
December 20 -
Robert Fehlman, who has worked with the bank since 1988, will succeed George Makris Jr. at the start of 2023.
December 20 -
Changes that began at individual banks in 2021 gained steam this year, as many large and midsize banks reduced their reliance on overdraft-related charges. Federal and state policymakers were key catalysts of the sea change.
December 19






















